Right to Receive Compensation on Acquisition and TDR Rights are not Immovable Assets, Section 50C can’t be invoked: ITAT

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently held that section 50C of the Income Tax Act, 1961 cannot be invoked in respect of the right to receive compensation on compulsory acquisition of land and the TDR rights as the same would not come within the meaning of “immovable property”. During the relevant […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2DtDI73