https://www.taxtmi.com/caselaws?id=424778 The Tribunal allowed the assessee's appeal, ruling that section 50C of the Income Tax Act did not apply to the transfer of leasehold rights as it only pertains to ownership rights. The judgment emphasized the necessity of disclosing all material facts and cited previous decisions supporting the non-applicability of section 50C to leasehold rights transfers. The Tribunal's decision underscored the consistent stance of Courts/Tribunals on this issue, ultimately leading to the appeal's success for the assessee. en-us Wed, 06 Jul 2022 00:00:00 +0530 Fri, 08 Jul 2022 09:34:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424778 The Tribunal allowed the assessee's appeal, ruling that section 50C of the Income Tax Act did not apply to the transfer of leasehold rights as it only pertains to ownership rights. The judgment emphasized the necessity of disclosing all material facts and cited previous decisions supporting the non-applicability of section 50C to leasehold rights transfers. The Tribunal's decision underscored the consistent stance of Courts/Tribunals on this issue, ultimately leading to the appeal's success for the assessee. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424778