HC held that held that Revenue has no discretion to adopt any date other than the date of agreement under Section 50C(1) of the Income Tax Act, 1961
The Karnataka High Court rejected the appeal filed by revenue was not meritorious and held that the revenue has no discretion to adopt any date other than the date of agreement in question. In this case, the asessee, Bellandur Chikkagurappa Jayaramareddy, filed his income tax returns (ITR) for the year 2014-2015, declaring a total income…
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