Section 50c applies to immovable depreciable assets

Amit Bajaj , Last updated: 29 April 2011  
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ITO vs United Marine Academy(Mumbai ITAT) Brief Facts: The assessee sold an office building for Rs. 49.43 lakhs. As the WDV of the said building was also Rs. 49.43 lakhs, no STCG was offered to tax. The AO held that as the stamp duty valuation of the building was Rs. 76.49 lakhs, the con

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Published by

Amit Bajaj
(Tax Attorney)
Category Income Tax   Report

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