Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (10) TMI 340 - ITAT JAIPURCapital gain computation - Addition u/s 50C - Change in Circle Rate between the date of agreement and actual date of registration - whether the stamp duty valuation on the date of agreement will be relevant for the purpose of adopting full value consideration u/s 50C or stamp duty valuation as on the date of sale deed will be considered for this purpose - HELD THAT:- Tribunal held that proviso to Section 50C of the Act is effective from 01-04-2013 and amendment brought to Section 50C was treated as retrospective. The other decisions of the Tribunal as relied on by the ld.AR of the assessee have also taken consistent view that proviso to section 50C is having retrospective effect being remedial / clarificatory in nature. Following the decisions of the Coordinate Benches of the tribunal and in the absence of any contrary decision brought to my notice, I hold the DLC rate as on date of 31-07-2014 when agreement to sell was entered between the parties and part consideration received by the assessee through banking channel shall be taken as full value consideration. Accordingly, the AO is directed to adopt full value consideration as DLC rate on the date of agreement and if sale consideration shown in the sale deed is more than DLC Rate of the property as on s31-07-2014 then no addition u/s 50C - Decided in favour of assessee.
|