https://www.taxtmi.com/caselaws?id=416043 The ITAT upheld the decisions of the lower authorities regarding the addition made by the AO under section 50C of the Income Tax Act, 1961, emphasizing that no adjustment for gift is allowed in determining the full value of consideration for land or building transfers. The appeals by the Assessees were dismissed, affirming the authorities' decision to consider the stamp duty value as the sale consideration for calculating short-term capital gains. en-us Thu, 25 Nov 2021 00:00:00 +0530 Mon, 20 Dec 2021 09:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416043 The ITAT upheld the decisions of the lower authorities regarding the addition made by the AO under section 50C of the Income Tax Act, 1961, emphasizing that no adjustment for gift is allowed in determining the full value of consideration for land or building transfers. The appeals by the Assessees were dismissed, affirming the authorities' decision to consider the stamp duty value as the sale consideration for calculating short-term capital gains. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416043