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2017 (1) TMI 1682 - AT - Income TaxAddition u/s. 50C - AO adopted the stamp duty valuation in respect of one of the properties where an actual declared sale consideration is lower than the stamp duty valuation - HELD THAT:- The sale consideration of these two plots sold on the same day though be separated agreements, is more than the stamp duty valuation by ₹ 3,00,00,000/-. Even assuming for a moment that the sale consideration in respect of Plot in survey No. 22 and 42 is less than the stamp valuation it is ₹ 33,48,284/- which is less than 10% of the stamp duty valuation of the said plot. Therefore assessee should succeeded in its appeal. Referring to Smt. Sita Bai Ketan [2016 (11) TMI 955 - ITAT JAIPUR] we direct to AO to adopt the valuation of sale consideration as declared by the assessee. The additions made by the AO u/s. 50C is deleted and as grounds raised by the assessee are allowed.
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