![Where assessee had offered actual amount received on sale of property for taxation, revenue authorities were not justified in passing penalty order under section 271(1)(c) by adopting higher sale consideration under section 50C on basis of stamp duty valuation of said property. CIT vs Madan Teatres Ltd. [2014] 42 taxmann.com 26 (Calcutta) Merely applicability of sec 50C will not prove escapement of Income. ITO vs Shri Haresh Chand Agarwal, HUF, Date of Order: ITA No.282/Agra/2013, Date of Order: , ITAT-Agra.](https://www.itrtoday.com/wp-content/uploads/2017/07/s2711cviz-a-vizSection50C.jpg)
Section 50 C of Income Tax Act – Sale Consideration Vs Stamp Valuation
Section 50C of Income Tax Act states, “The AO is not entitled to make an addition to the sale consideration declared by the assessee if... Read More
section 50 of income tax act
Provisions relating Capital Gain u/s 50 of Income Tax Act – Depreciable Assets
Working of Capital Gain u/s 50 of Income Tax Act against sale of business assets Section 50 of the Income Tax Act, 1961 provides... Read More
Reporting of Foreign Assets by Indian Taxpayers under Section 139(1) of the Income Tax Act 
Major Changes Expected in Direct Tax Code 2025 and why these matter 
Can an assessee pay House Rent to his parents and claim relief? Would there be any legal complications? 
Boost Your Business & Reduce Taxes: A Guide to Maximizing Benefits Under Section 80JJAA