https://www.taxtmi.com/caselaws?id=359790 Section 50C applies to the transfer of perpetual or enduring leasehold and occupancy rights in agricultural land where those rights are substantial and nearly permanent. Such rights constitute a capital asset, so capital gains may be computed using the stamp duty value. Nominal ownership remaining with the State in revenue records does not prevent application of Section 50C when the transferor conveys enduring property rights. On this basis, the stamp-duty-value addition was sustained, and the challenge to applying Section 50C failed without any substantial question of law arising. 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 Section 50C applies to the transfer of perpetual or enduring leasehold and occupancy rights in agricultural land where those rights are substantial and nearly permanent. Such rights constitute a capital asset, so capital gains may be computed using the stamp duty value. Nominal ownership remaining with the State in revenue records does not prevent application of Section 50C when the transferor conveys enduring property rights. On this basis, the stamp-duty-value addition was sustained, and the challenge to applying Section 50C failed without any substantial question of law arising. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359790