ITAT Chandigarh: Section 50C Not Applicable on Transfer of LOIs in Land Acquisition Cases

CHANDNI JAIN , Last updated: 07 April 2026 Share Follow on Google News

The Chandigarh Bench of the Income-tax Appellate Tribunal held that Letters of Intent (LOIs) issued in the course of compulsory land acquisition do not qualify as land or building itself under Section 50C of the Income-tax Act, 1961. Therefore, capital gains arising from the transfer of such LOIs ca

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CHANDNI JAIN
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I am a qualified Chartered Accountant with a genuine interest in taxation, judicial developments, and practical accounting matters. I regularly engage in understanding tax judgments and aim to present them in a simple and clear manner. I believe in steady learning, staying updated, and building practical knowledge over .. Read more

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ITAT Chandigarh: Section 50C Not Applicable on Transfer of LOIs in Land Acquisition Cases

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