https://www.taxtmi.com/caselaws?id=426437 The Tribunal quashed the assessment order under Section 263 due to inconsistencies in the application of Section 50C of the Income Tax Act and the Jantri Rate in determining capital gains. Emphasizing the need for consistency in treating co-owners, the Tribunal held that differential treatment violated the principle of equity and equality among co-owners in similar transactions. The Tribunal's decision was based on ensuring uniformity in treatment and upholding the constitutional principle of equality under Article 14. en-us Wed, 03 Aug 2022 00:00:00 +0530 Wed, 17 Aug 2022 08:09:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426437 The Tribunal quashed the assessment order under Section 263 due to inconsistencies in the application of Section 50C of the Income Tax Act and the Jantri Rate in determining capital gains. Emphasizing the need for consistency in treating co-owners, the Tribunal held that differential treatment violated the principle of equity and equality among co-owners in similar transactions. The Tribunal's decision was based on ensuring uniformity in treatment and upholding the constitutional principle of equality under Article 14. Case-Laws Income Tax Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426437