https://www.taxtmi.com/caselaws?id=285601 The appeal was allowed in favor of the appellant. The Tribunal found that section 50C of the IT Act, 1961 did not apply to the transfer of leasehold rights in the property. The Assessing Officer was directed to use the actual sales consideration in computing capital gains, providing relief to the appellant. The judgment emphasized the distinction between ownership and tenancy rights in property transfers, supporting the appellant's case and upholding their grievance. en-us Fri, 18 May 2012 00:00:00 +0530 Sat, 18 Jan 2020 16:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285601 The appeal was allowed in favor of the appellant. The Tribunal found that section 50C of the IT Act, 1961 did not apply to the transfer of leasehold rights in the property. The Assessing Officer was directed to use the actual sales consideration in computing capital gains, providing relief to the appellant. The judgment emphasized the distinction between ownership and tenancy rights in property transfers, supporting the appellant's case and upholding their grievance. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285601