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Started by murali Krishnamurthy, January 26, 2010, 06:43:35 PM

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murali Krishnamurthy

 I believe there is a judgement of Tribunal reported in 298 ITR 42 (ITAT) Jodgpur bench which has stated that if the document is not registered, then section 50C has not applicability? are there any subsequent case law on the subject? is this good law.


in my opinion case laws are not required as there is an amendment in sec. 50C itself by the Finance Act, 2009 by which an amendment is brought into the statute as per which Sec. 50C is applicable even for the transactions that are not registered. However, this amendment is applicable to the transactions that takes place after 01.10.2009. Therefore, it can safely be concluded that  for the earlier transactions, the provisions of sec. 50C are not applicable. 


Just to overrule these kinds of judgements , section 50C has been amended. Prior to amendment , if document is not registered then 50C will not apply. Further amendment has not been given retrospectve effect.


yes the word assessable has been added in section 50C resulting in applicability of section 50C evan in those cases where the sale deed is not entered into and the property is sold with full & final agreement of sale.