https://www.taxtmi.com/highlights?id=78676 The Appellate Tribunal considered the applicability of u/s 50C regarding capital gain computation for the transfer of leasehold rights. It was held that u/s 50C applies only to land or building, not lease rights. Citing precedents, it was noted that u/s 50C does not cover leasehold rights. The deeming provision of u/s 50C substitutes stamp valuation authority's value if lower than consideration received. As leasehold rights are not covered, u/s 50C does not apply. The AO can compute capital gains without invoking u/s 50C. en-us Thu, 20 Jun 2024 15:29:14 +0530 Thu, 20 Jun 2024 15:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78676 The Appellate Tribunal considered the applicability of u/s 50C regarding capital gain computation for the transfer of leasehold rights. It was held that u/s 50C applies only to land or building, not lease rights. Citing precedents, it was noted that u/s 50C does not cover leasehold rights. The deeming provision of u/s 50C substitutes stamp valuation authority's value if lower than consideration received. As leasehold rights are not covered, u/s 50C does not apply. The AO can compute capital gains without invoking u/s 50C. Highlights Income Tax Thu, 20 Jun 2024 15:29:14 +0530 https://www.taxtmi.com/highlights?id=78676