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Query Details

Asked by Arpit on :Feb. 02, 2018

What is the synopsis of amendment brought in sect…

What is the synopsis of amendment brought in section 50C by Finance Act, 2009??

What is the synopsis of amendment brought in section 50C by Finance Act, 2009??

0

Kanishka Feb. 02, 2018

Madras HC in the case of R.Sugantha Ravindran held that Departmental circulars are binding on the revenue and that department cannot contend that the circular are against the statutory provisions. HC also opined that amendment brought in Section 50C by Finance Act, 2009 is prospective in nature and cannot be applied to transactions undertaken prior to 01.10.2009.

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