https://www.taxtmi.com/caselaws?id=366233 Section 50C of the Income-tax Act did not apply to the transfer of an allotment right in an unfurnished flat, because the assessee had transferred only a contractual allotment right and not land or building registered in his name. As section 50C is a deeming valuation provision confined to land or building or both, the stamp duty valuation could not be substituted for the transfer consideration in this transaction. The addition made on that basis for long-term capital gains was therefore deleted. en-us Fri, 24 Aug 2018 00:00:00 +0530 Thu, 30 Aug 2018 08:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366233 Section 50C of the Income-tax Act did not apply to the transfer of an allotment right in an unfurnished flat, because the assessee had transferred only a contractual allotment right and not land or building registered in his name. As section 50C is a deeming valuation provision confined to land or building or both, the stamp duty valuation could not be substituted for the transfer consideration in this transaction. The addition made on that basis for long-term capital gains was therefore deleted. Case-Laws Income Tax Fri, 24 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366233