Tribunal held that the property sold by the assessee in the building was leasehold property and the addition made by the AO and confirmed by the CIT(A) by invoking the provisions of S 50C is held to be not sustainable. (AY. 2007-08)
Ara properties P. Ltd v. Dy. CIT (2019)75 ITR 12 (SN) (Kol.) Trib)
S. 50C : Capital gains-Full value of consideration-Stamp valuation–Lease hold rights–Stamp valuation is not applicable-Addition is held to be not valid. [S. 45]