Question And Answer
Subject: 45[3] vs 50c
Category: 
Querist: BKS
Answered by:
Tags: , ,
Date: June 20, 2023
Query asked by BKS

which prevails over the other , 50c or 45[3]?

File Uploaded: Not Available


The deeming fiction of section 50C of the Act cannot override the deeming fiction under section 45(3) of the Act. This has been held by the Hon’ble Income-tax Appellate Tribunal – Mumbai Bench in the case of Network Construction Company v. ACIT (2020) 185 ITD 318 (Mum)(Trib)



Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org

Leave a Reply

Your email address will not be published. Required fields are marked *

*