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2023 (7) TMI 407 - AT - Income TaxAddition of long term capital gain - addition invoking provisions of Section 50C - Section 50C retrospective or prospective effect - CIT(A) deleted the addition holding that the amendment to Section 50Cis retrospective and allowed benefit of sale consideration as per agreement to sell in which sale consideration was lesser than the value adopted by the stamp valuation authority - HELD THAT:- As decided in Dharamshibhai Sonani [2016 (9) TMI 1259 - ITAT AHMEDABAD] provisos to Section 50C being effective from 1st April 2003 - This is precisely what the learned counsel has prayed for. In his detailed written submissions, he has made out of a strong case for the amendment to Section 50C being treated as retrospective and with effect from 1st April 2003. The plea of the assessee is indeed well taken and deserves acceptance. Also see Amit Bansal [2018 (11) TMI 1699 - ITAT DELHI] We decline to interfere with the findings of the ld. CIT(A). - Decided against revenue.
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