https://www.taxtmi.com/caselaws?id=359790 Perpetual lease or occupancy rights in agricultural land can be treated as a capital asset for income-tax purposes, and their transfer may attract Section 50C where the rights are substantial and enduring. The note states that nominal title remaining with the State does not prevent application of stamp duty valuation when the assessee transfers nearly permanent rights in the property. On that basis, the addition based on stamp duty value was upheld and the challenge to Section 50C was rejected. en-us Mon, 26 Feb 2018 00:00:00 +0530 Fri, 04 May 2018 08:51:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359790 Perpetual lease or occupancy rights in agricultural land can be treated as a capital asset for income-tax purposes, and their transfer may attract Section 50C where the rights are substantial and enduring. The note states that nominal title remaining with the State does not prevent application of stamp duty valuation when the assessee transfers nearly permanent rights in the property. On that basis, the addition based on stamp duty value was upheld and the challenge to Section 50C was rejected. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359790