Addition u/s 43CA - difference in the value of sale ...
Income Tax
February 17, 2024
Addition u/s 43CA - difference in the value of sale consideration of the of property as shown by the assessee and value adopted by the Sub-Registrar for stamp duty purposes - ITAT held that Section 43CA, which mandates consideration of stamp duty value for tax purposes, is applicable. However, given the agreement and most payments were made in 2008, and considering the provision of Section 43CA(3), the tribunal found that the addition made by the AO was not justifiable, since the provisions are not retrospective.
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