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2020 (9) TMI 408 - AT - Income TaxComputation of capital gain - determination of sale consideration for the purpose of section 50C - HELD THAT:- An agreement enforceable in law was executed by the assessee on 30.12.2010. For the purpose of demonstrating authenticity of this agreement, corroborative evidence in the shape of receipt of part payment through banking channel has been furnished. The assessee has received part payment of the sale consideration at the time of sale agreement, and those payments have also been recognized in the final sale deed. No hesitation in concluding that agreement executed on 30.12.2010 has been given effect by the parties which resulted in execution of the sale deed roughly after one and half years. Circle rate at the time of execution of agreement was lesser than one adopted by the parties as sale consideration. Therefore, the facts in the case of Rahul G. Patel [2018 (9) TMI 1696 - ITAT AHMEDABAD] are fully applicable on the facts of the present case, and full sale consideration for the purpose of computing long term capital gain in the hands of the assessee is to be adopted at ₹ 81 lakhs being 25% of share of ₹ 3,24,00,000/-. Appeal of the assessee is partly allowed.
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