High Court rules Section 50C proviso of Income Tax Act applies retrospectively, easing capital gains computation for taxpayers.

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....Capital Gain computation - Invoking provision of section 50C - an amendment by insertion of proviso seeks to relieve the assessee from undue hardship - No hesitation to hold that the proviso to Section 50C(1) of the Act should be taken to be retrospective from the date when the proviso exists. - HC....