Calculation of Capital Gain by invoking the provisions of Section 50C of the Income Tax Act

Last updated: 23 November 2021
Quick Summary
This Income Tax Appellate Tribunal ruling addresses the calculation of capital gains tax under Section 50C. The assessee company declared long-term capital gains from the sale of leasehold land. The Assessing Officer reviewed the consideration received for the land transfer. Ultimately, the appeal by the Revenue was dismissed, upholding the assessee's calculation.

Court :
ITAT Pune

Brief :
This appeal by the Revenue is directed against the order passed by the CIT(A)-1, Aurangabad on 23-06-2017 in relation to the assessment year 2014-15.

Citation :
ITA No.2096/PUN/2017

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