YADLA SRINIVASA RAO,VIJAYAWADA vs. THE INCOME TAX OFFICER, WARD-3(2), , VIJAYAWADA
In the result, appeal of the assessee is dismissed
ITA 78/VIZ/2021[2011-12]Status: DisposedITAT Visakhapatnam17 Mar 2023AY 2011-12
Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.78/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2011-12) Yadla Srinivasa Rao Vs. Income Tax Officer D.No.20-04-190/7A Ward-3(2) Basavataraka Nagar Vijayawada Ayodhya Nagar Vijayawada [Pan : Abfpy5447F] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
For Appellant: Shri M.Madhusudan, ARFor Respondent: Shri O.N.Hari Prasada Rao, DR
Section 139Section 148Section 2(47)(v)Section 50C
gains of Rs.13,45,910/-. For the sake of clarity, the provisions of section 50C are extracted as under :
Special provision for full value of consideration in certain cases.
50C. (1) Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land or building or both, is less than
