Allowing the appeal of the assessee the Tribunal held that , S.50C being a deeming provision and applies only to the transfer of land or building. It does not apply to the transfer of “booking rights” and to right to purchase flats in a building . (ITA No.635/Kol/2018, dt. 04.07.2018)(AY. 2013-14)
Baniara Engineers Pvt. Ltd. v. ITO (SMC) ( Kol)(Trib),www.itatonline.org
S. 50C : Capital gains-Full value of consideration- stamp valuation-Provision being a deeming provision and applies only to the transfer of land or building. It does not apply to the transfer of “booking rights” and to right to purchase flats in a building [ S.45 ]