Computation of long term capital gains u/s 50C of the IT Act

Last updated: 05 September 2021
Quick Summary
This Income Tax Appellate Tribunal (ITAT) Hyderabad ruling concerns the computation of long-term capital gains under Section 50C of the Income Tax Act. The Assessing Officer (AO) calculated the capital gains based on the Stamp Duty Registration (SRO) value, which was significantly higher than the sale consideration declared by the assessee. The Tribunal allowed the assessee's appeal, following a precedent set in a similar case.

Court :
ITAT Hyderabad

Brief :
Both these appeals filed by the assessee are directed against CIT(A) - 1 , Hyderabad’s separate orders dated 19/05/2017 for AY 2012-13 involving proceedings u/s 143(3) and 271(1)(c) of the Income- Tax Act.

Citation :
ITA No. 1279 & 1280/H/2017

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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