Meaning of 'transfer' under section 2 (47) of the Income Tax Act

Last updated: 22 September 2021

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Quick Summary

This Income Tax Appellate Tribunal order addresses cross-appeals concerning the assessment of property transactions. The tribunal ruled that the Revenue could not be considered an aggrieved party when the CIT(A) directed the Assessing Officer to use the stamp duty value of properties received in a compromise agreement. This is because Section 50C of the Income Tax Act also uses the stamp duty value as the maximum sale consideration for capital gains calculations.

Court :
ITAT Hyderabad

Brief :
These Revenue’s and assessee’s cross-appeals for AY.2008-09 arise against the CIT(A)-II, Hyderabad’s order(s) dated 11-11-2014, in case No.0270 / CIT(A)-II, Hyd /2014-15, involving proceedings u/s.143(3) of the Income Tax Act.

Citation :
125/Hyd/2015

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Attached File : 1442821_4445_1631615267_itas_125_181_h_suresh__ama_ssg.pdf

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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