{"id":15889,"date":"2021-03-24T12:13:16","date_gmt":"2021-03-24T06:43:16","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ritz-suppliers-p-ltd-v-ito-2020-182-itd-227-187-dtr-175-204-ttj-383-smc-kol-trib\/"},"modified":"2021-03-24T12:13:16","modified_gmt":"2021-03-24T06:43:16","slug":"ritz-suppliers-p-ltd-v-ito-2020-182-itd-227-187-dtr-175-204-ttj-383-smc-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ritz-suppliers-p-ltd-v-ito-2020-182-itd-227-187-dtr-175-204-ttj-383-smc-kol-trib\/","title":{"rendered":"Ritz Suppliers (P.) Ltd. v. ITO (2020) 182 ITD 227 \/ 187 DTR 175 \/ 204 TTJ 383 (SMC) (Kol.)(Trib.)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that since neither Land or\u00a0 Building or\u00a0 both had been transferred but leasehold rights in property were transferred provision of section 50C is not attracted . Accordingly the addition was deleted.\u00a0 Section 50c Could Not Be Attracted. Followed CIT\u00a0 v. Amarchand N. Shroff (1963 48 ITR\u00a0 59 (SC)\u00a0 wherein in the Court held that the scope of\u00a0 a deeming provision and came to hold ta it cannot be extended beyond the object for which it is enacted. \u00a0(AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 50C : Capital gains-Full value of consideration-Stamp valuation-Lease hold rights-99 years lease-Provision is not applicable-Addition is deleted. [S. 45, 48, Wealth-tax Act, 1957, S. 5(1)(xxxii)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15889","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-48h","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=15889"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15889\/revisions"}],"predecessor-version":[{"id":15890,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15889\/revisions\/15890"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}