Wednesday, March 15, 2017

Section 50C doesnot apply to transfer of leasehold rights in land: Bombay High Court

The High Court of Bombay held that section 50C will not be applicable while computing capital gains on transfer of leasehold rights in land and buildings.
Commissioner of Income-tax, Central-II, Mumbai v. Greenfield Hotels & Estates (P.) Ltd.* [2017] 77
taxmann.com 308 (Bombay)

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