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2022 (12) TMI 1119 - ITAT RAJKOTCapital gain computation - invoking section 50C - CIT(A) held that the Stamp Duty valuation comes into picture, only when the sale deed is put for registration. Therefore the assessee’s argument that the Jantri value of 2006 cannot be adopted, when the registration taken place only in 2011 - argument of the assessment namely since the possession of the property given in 2006-07 capital gain cannot be assessed during the AY 2012-13 - HELD THAT:- To meet the ends of justice, we deem it fit to set aside the matter back to the file of the Assessing Officer with a direction to the assessee to produce the bank accounts relating to the transaction on 15.09.2006 and 16.10.2006 and produce the copies of the bank statements, so as the Assessing officer can invoke second proviso to Section 50C of the Act. Needless to state, the assessee should cooperate with the Assessing Officer by producing the relevant bank statements, so as the A.O. can pass a fresh assessment order. For this reason, the appeal is allowed for statistical purposes.
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