Tribunal held that sale of inherited residuary right in the property, there is no transfer of land or building hence provision of S.50C is not applicable, however the cost of acquisition to be taken at nil. (ITA No. 3864/Mum/2016 dt. 2-12-2018) (AY. 2010-11)
Maitri Morarji v. ITO (Mum.) (Trib.) (UR)
S. 50C : Capital gains-Full value of consideration-Stamp valuation- Sale of inherited residuary right in the property-No transfer of land or building -Provision of S.50C is not applicable-Cost of acquisition to be taken at nil.[S. 45]