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The Chamber of Tax Consultants v . UOI ( Bom) (HC) www.itatonline.org

S.50CA: Capital gains- Full value of consideration for transfer of share other than quoted shares – Validity of Section 49, 50CA, 56 of Income-tax Act,1961 read with Rule 11U, 11UA etc challenged before Bombay High court. [ S. 49 56 , Rule 11U 11UA ]

The Bombay high court in the case of Chamber of Tax Consultants v.  Union of India in WP No 3575 of 2020 vide order dated 22nd October,2020 issued notice to the Union of India as the vires of the Section and rules have been challenged.  The next hearing is fixed on 26th November,2020. ( WP (L) NO.3575 of  2020  dt 22-10-2020)

 https://itatonline.org/digest/wp-content/uploads/2020/10/F256000035752020_1.pdf