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2021 (10) TMI 1095 - ITAT MUMBAICapital gain computation - AO in adopting stamp duty value as per Section 50C of the Act as full value of consideration - Scope of amendment to Section 50C - HELD THAT:- Difference in consideration adopted by the stamp valuation authority and the assessee is less than 5% and we find that there is an amendment which has been brought in Section 50C of the Act by way of third proviso w.e.f. 01/04/2019 wherein tolerance band of 10% has been specified. This amendment in third proviso has been held to be retrospective in operation by the Co-ordinate Bench of this Tribunal in the case of Maria Fernandes Cheryl [2021 (1) TMI 620 - ITAT MUMBAI] stating that the said proviso even though not stated to be prospective must be construed as curative in nature and hence to be given retrospective aspect - Thus we direct the ld. AO to consider only ₹ 58,50,000/- as sale consideration while computing the capital gains as against ₹ 61,16,000/-. Exemption u/s 54EC - investment made by her in NHAI capital gain bonds within a period of six months - The primary fact of date of handing over of cheque together with the application form is duly supported by an affidavit filed by the sub-broker Shri Gobind M Vaswani who had categorically affirmed that he has collected the application form together with the cheque from the assessee on 24/10/2013 and had indeed handed over the same to authorised agent i.e. M/s. Karvy Stock Broking Ltd., on 24/10/2013 itself. The contents of this affidavit has not been controverted by the revenue by bringing in contrary evidences thereon. The law is very well settled that in the event of an affidavit not tested by the department in the manner known to law, then the contents of the said affidavit is to be construed as true and correct. Reliance in this regard is placed on the celebrated decision of the Hon’ble Supreme Court in the case of Mehta Parikh & Co. vs CIT[1956 (5) TMI 4 - SUPREME COURT] We have no hesitation in holding that assessee is entitled for claim of exemption u/s.54EC of the Act in respect of investment made by her in NHAI capital gain bonds within a period of six months from the date of transfer. Accordingly, the grounds raised by the assessee are allowed.
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