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2018 (11) TMI 1699 - ITAT DELHICapital gain computation - Gain arising from the sale consideration as chargeable to tax under the head 'Income from capital gain' - adoption of circle rate on the date of agreement to sell in order to compute the consequential capital gain - whether the amendment is prospective in nature i.e., will be applicable from A.Y. 2017-18 or is retrospective in nature being curative in nature? - whether stamp valuation authority on the date of agreement may be taken and, thus, the assessee has correctly adopted the rates applicable on the date of the agreement as against the date of actual sale? - HELD THAT:- We find identical issue had come up before the Ahmedabad Bench of the Tribunal in the case of Dharamshibhai Sonani versus ACIT [2016 (9) TMI 1259 - ITAT AHMEDABAD] where it has been held that amendment to section 50C introduced by the Finance Act, 2016 for determining full value of consideration in the case of involved property is curative in nature and will apply retrospectively. As in RAHUL G. PATEL VERSUS DCIT, CIR. 1 (2) , BARODA [2018 (9) TMI 1696 - ITAT AHMEDABAD] has held that the proviso to section 50C(1) introduced by the Finance Act, 2016 can be construed as clarificatory in nature and can be applied on pending matters. The various other decisions relied on by the ld. counsel for the assessee also support the case of the assessee that where the date of the agreement fixing the amount of consideration and the date of registration regarding the transfer of the capital asset in question are not the same, the value adopted or assessed or assessable by the stamp valuation authority on the date of the agreement is to be taken for the purpose of full value of consideration. Therefore, accept the argument of the ld. counsel for the assessee in principle and restore the issue to the file of the AO with a direction to verify necessary facts and decide the issue in the light of my above observation directing to adopt the circle rate on the date of agreement to sell in order to compute the consequential capital gain. Appeal filed by the assessee is allowed for statistical purposes.
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