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2023 (8) TMI 1282 - ITAT KOLKATAAddition u/s 50C - difference between the value of property as per Stamp Valuation Authority and as per Government approved valuer - HELD THAT:- We find that the difference between the value as per Stamp Valuation Authority and the value as per the Government approved valuer is less than 10% which is within the leverage provided u/s 50C. The third proviso to Section 50C of the Act provides that where the value adopted or assessed or assessable by the stamp valuation authority does not exceed one hundred and ten per cent of the consideration received or accruing as a result of the transfer, the consideration so received or accruing as a result of the transfer shall, for the purposes of Section 48, be deemed to be the full value of the consideration. The case of the assessee finds support from the decision of Sandeep Kumar Poddar Vs. ITO [2023 (3) TMI 666 - ITAT KOLKATA] wherein a similar issue has been decided by the assessee. We, therefore, set aside the order of Ld. CIT(A) and direct Ld. AO to delete the addition u/s 50C - Decided in favour of assessee.
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