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1 result for “charitable trust”+ Section 50C(2)clear

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Section 50C2

SHRI SANKET NANDLAL SARAF,,NAGPUR vs. I.T.O. WARD 1(4), NAGPUR

In the result, appeal of the assessee is allowed

ITA 24/NAG/2017[2009-10]Status: DisposedITAT Nagpur15 Jul 2022AY 2009-10
For Appellant: Shri R.K.Ganeriwal, CAFor Respondent: Smt. Agnes P. Thomas, DR
Section 143(1)Section 50CSection 50C(1)

charitable trust and operating school there since 1999. It was submitted by the ld. AR that the sale consideration as per agreement to sale being 1/3rd share of Rs.17,00,000/-, however, the AO erred in considering the sale value u/s.50C as on date of sale deed 27.08.2008 which Rs.6126,000/- and made addition of Rs.3,42,000/- under