[aaykarbhavan] Section 50C won't apply to an encumbered property, says ITAT

Section 50C won't apply to an encumbered property, says ITAT

April 10, 2015[2015] 55 taxmann.com 538 (Hyderabad - Trib.)

IT : Where property held by assessee was encumbered and, thus, she was not absolute owner of property, while computing capital gain arising from transfer of such a property, market value of property as taken for purpose of payment of stamp duty could not be adopted as sale consideration by applying provisions of section 50C

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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