ALOK KUMAR,ARRAH vs. ITO, WARD-1(4), ARRAH
In the result, the appeal of the assessee is allowed
ITA 561/PAT/2022[2012-13]Status: DisposedITAT Patna10 Oct 2024AY 2012-13
Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad
Section 144Section 147Section 48Section 50CSection 56(2)Section 56(2)(vii)
capital gain under section 48 of the Income Tax Act, the full value of the property would be construed at Rs.150/-. This deeming fiction is provided in section 50C of the Income Tax Act. The ld. Assessing
Officer made a reference to section 50C and observed that full value of sale consideration is being taken at Rs.1,69,56