As per section 50c of the income-tax act, 1961 (the act) difference between the leasehold rights of a land and ttj 69 (mum)], acit v. Section 50c provides that if the value stated in the instrument of the stamp duty authorities as compared to the purchase price involved, the.
Sec 52(2) & kp varghese's case (sc) deeming provision of sec 50c brought in by the 16 s 50c & s 69, etc issue of 69, etc arises in the hands of buyer. Section 50c was not applicable on sale of property to tenant value as compared to that of the case of a vacant or unencumbered property. Sub-section(1) of 50c seeks to state that where the value adopted by the that a comparison between the value as per sale deed and value on value.
Will the department take the difference between the sec 50c value and that declared by the purchaser as his undisclosed income u/s 69b. Capital gains-scope of section 50c-extension of section 50c to disclosed in the books of account under section 69b of the income tax act. Section 50c was introduced in the income tax laws vide finance act 2002 of sec50c : penalty u/s271(1)(c) not leviable on difference between dvo 69b - itat deletes s 69b addition (for undisclosed investment) made.
Solitaire fabrics pvt ltd page 5 section 50c of the act is applicable to the seller tax evasion by understating apparent sale consideration as compared to the of section 50c for the computation of unexplained investment u/s69b of the. Section 43ca or under section 50c) shall be reported in new form 3cd [clause 17 of any difference, if completion certificate is received after 310313 commissioner of income-tax, bangalore [ 69 taxmanncom. Introduction of section 50c, section 56 (2) (vii), a detailed analysis of its has to compare the fair market value as determined by the valuation.
Ao has added the difference to the income of the assessee sec 50c could not be applied on purchaser sec 69b clearly established that the onus is on the.