| COURT: | ITAT Amritsar |
| CORAM: | A. D. Jain (JM), B. P. Jain (AM) |
| SECTION(S): | 4, 50C |
| GENRE: | Domestic Tax |
| CATCH WORDS: | capital gains, Dharmada receipts |
| COUNSEL: | P. N. Arora |
| DATE: | September 5, 2014 (Date of pronouncement) |
| DATE: | December 8, 2014 (Date of publication) |
| AY: | 2009-10 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| (i) Dharmada collections are not taxable as income, (ii) S. 50C does not apply to the purchaser of property | |
(i) It is not disputed that Dharmarth receipts are not taxable. This is as per the CBDT Circular (supra), as also the following decisions: i. CIT Vs. Bijli Cotton Mills (P) Ltd., (1979) 116 ITR 60 (SC) ii. CIT Vs. …
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