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2019 (8) TMI 1863 - ITAT AHMEDABADAddition of LTCG u/s 50C - value adopted or assessed or assessable by the stamp valuation authority - AO has adopted the value as per stamp valuation authority as on 06.04.2011 on the ground that sale value determined by the stamp valuation authority was higher than the sale consideration referred in the sale agreement - Whether proviso to sub section (1) of Sec. 50C is not with retrospective effect of it came into effect from 01.04.2017 only? - HELD THAT:- It is clear that in the case of the assessee the Banakhat (Agreement to Sale) was made on 20.11.2010 which was duly notarised on 20.03.2011 and sale consideration was determined at Rs. 76,00,000/- and entire payment has been received by account payee cheque by 31.03.2011 and sale consideration as on date of execution of agreement to sale was higher than the transfer valuation. It is clear from the aforesaid material fact that assessee has received the entire amount of sale consideration by account payee cheque before 31.03.2011 and there was delay of five days in the registration of the document due to shortage of stamp etc. Considering decision of DCIT vs. S. Venkat Reddy [2016 (10) TMI 844 - ITAT HYDERABAD] as referred in the findings of the Ld. CIT(A) and the decision in the case of Dharamshibhai Sonani [2016 (9) TMI 1259 - ITAT AHMEDABAD] the appeal of the Revenue is dismissed.
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