https://www.taxtmi.com/caselaws?id=433325 The Tribunal ruled that section 50C does not apply to the transfer of leasehold rights in land or building, as it specifically mentions only land or building without including any right in them. Citing a Supreme Court judgment and a Bombay High Court case, the Tribunal held that leasehold rights are not covered under section 50C. Consequently, the addition made by the Assessing Officer was deleted, and the appellant's appeal was allowed. en-us Fri, 09 Dec 2022 00:00:00 +0530 Wed, 25 Jan 2023 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433325 The Tribunal ruled that section 50C does not apply to the transfer of leasehold rights in land or building, as it specifically mentions only land or building without including any right in them. Citing a Supreme Court judgment and a Bombay High Court case, the Tribunal held that leasehold rights are not covered under section 50C. Consequently, the addition made by the Assessing Officer was deleted, and the appellant's appeal was allowed. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433325