https://www.taxtmi.com/caselaws?id=763130 The HC of Madras dismissed the tax appeals, ruling in favor of the assessee. The Court upheld the ITAT's order, determining that the amendments to Section 50C of the Income Tax Act were prospective and not applicable to the transactions in question. The substantial question of law was resolved against the Revenue, with no costs awarded. en-us Wed, 20 Nov 2024 00:00:00 +0530 Thu, 12 Dec 2024 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763130 The HC of Madras dismissed the tax appeals, ruling in favor of the assessee. The Court upheld the ITAT's order, determining that the amendments to Section 50C of the Income Tax Act were prospective and not applicable to the transactions in question. The substantial question of law was resolved against the Revenue, with no costs awarded. Case-Laws Income Tax Wed, 20 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763130