LALIT KUMAR JALAN,JALAN PHARMACEUTICALS vs. ITO WARD-1(1), CUTTACK
In the result, appeal of the assessee is allowed with the directions
ITA 335/CTK/2024[2018-19]Status: HeardITAT Cuttack17 Oct 2024AY 2018-19
Section 142(1)Section 50C
capital gains in
those cases where provisions of section 50C are not applicable. Section
142A can be invoked for estimation of value including fair market value of
an asset, property or investment for the purposes of assessment or
reassessment. As per the scheme of the Income Tax Act, Section 50C
13
and 55A
