{"id":476,"date":"2009-03-02T11:11:29","date_gmt":"2009-03-02T11:11:29","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=476"},"modified":"2009-03-02T11:11:29","modified_gmt":"2009-03-02T11:11:29","slug":"inderlok-hotels-vs-ito-itat-mumbai","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/inderlok-hotels-vs-ito-itat-mumbai\/","title":{"rendered":"Inderlok Hotels vs. ITO (ITAT Mumbai)"},"content":{"rendered":"<p><a href=\"http:\/\/www.itatonline.org\/dlmonitor\/download.php?t=f&#038;i=218\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.itatonline.org\/images\/download.gif?w=605\" class=\"alignright\" border=\"0\" \/><\/a><\/p>\n<p><strong>S. 50C not applicable to dealers in land and building<\/strong><\/p>\n<p>Though s. 50C has been introduced by the Legislature to check the modus operandi of understating the sale consideration in the activity of civil construction and provides that the value determined or assessed by the stamp duty authorities shall be deemed to be the \u201cfull value of consideration\u201d, its scope is confined to property held as a \u201ccapital asset\u201d. <strong>It has no application to property held as \u201cstock-in-trade\u201d.<\/strong> Accordingly, additions on account of s. 50C cannot be made in the case of dealers in real estate. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Though s. 50C has been introduced by the Legislature to check the modus operandi of understating the sale consideration in the activity of civil construction and provides that the value determined or assessed by the stamp duty authorities shall be deemed to be the \u201cfull value of consideration\u201d, its scope is confined to property held as a \u201ccapital asset\u201d. It has no application to property held as \u201cstock-in-trade\u201d. Accordingly, additions on account of s. 50C cannot be made in the case of dealers in real estate. <\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/archives\/inderlok-hotels-vs-ito-itat-mumbai\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,8],"tags":[],"class_list":["post-476","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-tribunal"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=476"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/476\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}