The Calcutta High Court has ruled that the provisions of Section 50C of the Income Tax Act

The Calcutta High Court has ruled that the provisions of Section 50C of the Income Tax Act 

The Calcutta High Court has ruled that the provisions of Section 50C of the Income Tax Act cannot be applied in cases of compulsory acquisition of a capital asset (land or building, or both), because there is no requirement for payment of stamp duty in such vesting of property. As a result, there was no need for the stamp valuation authority to assess the property's valuation.



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