https://www.taxtmi.com/caselaws?id=780214 ITAT, Delhi: Held that section 50C does not apply where only leasehold rights in land were sold, following precedent treating "land" as excluding lease rights; appeal on this ground allowed. Held further that the assessee met conditions of section 54G because the notified "urban area" list did not include the industrial area to which the unit was shifted, so the AO's finding of relocation between urban areas was incorrect; deduction under section 54G directed to be allowed. en-us Fri, 17 Oct 2025 00:00:00 +0530 Sat, 25 Oct 2025 09:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780214 ITAT, Delhi: Held that section 50C does not apply where only leasehold rights in land were sold, following precedent treating "land" as excluding lease rights; appeal on this ground allowed. Held further that the assessee met conditions of section 54G because the notified "urban area" list did not include the industrial area to which the unit was shifted, so the AO's finding of relocation between urban areas was incorrect; deduction under section 54G directed to be allowed. Case-Laws Income Tax Fri, 17 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780214