https://www.taxtmi.com/caselaws?id=360149 The High Court interpreted Section 50C of the Act, ruling that it does not apply to the transfer of leasehold rights in land. The Tribunal's reliance on its previous decisions and the Revenue's withdrawal of an appeal in a similar case due to low tax effect supported the respondent assessee's position. The judgment emphasizes the importance of legal strategy and the impact of previous decisions on tax matters. en-us Mon, 23 Apr 2018 00:00:00 +0530 Thu, 10 May 2018 08:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360149 The High Court interpreted Section 50C of the Act, ruling that it does not apply to the transfer of leasehold rights in land. The Tribunal's reliance on its previous decisions and the Revenue's withdrawal of an appeal in a similar case due to low tax effect supported the respondent assessee's position. The judgment emphasizes the importance of legal strategy and the impact of previous decisions on tax matters. Case-Laws Income Tax Mon, 23 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360149