Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (2) TMI 1444 - ITAT BANGALORECapital gain computation - Applicability of section 50C - adopting the circle rate on the date of Sale Agreement executed on 07.08.1995 OR on the date of sale deed executed on 30.08.2008 as done by the AO - HELD THAT:- Since the evidence about receipt of part sales consideration by way of Account Payee Cheques before the date of sale deed is also available in the present case as discussed above, we do not feel any necessity to remand the matter to AO. Respectfully following these tribunal orders ed in the case of Bharathi Dev Anandani vs. ACIT [2016 (4) TMI 77 - ITAT BANGALORE] and in the case of M/s Universal Power Transformer Pvt. Ltd. Vs. DCIT [2019 (8) TMI 177 - ITAT BANGALORE] we hold that the Stamp Duty Value as on the date of sale agreement on 07.08.1995 should be adopted to work out capital gain u/s 50C in both these cases as against the stamp Duty Value as on date of the sale deed as adopted by the AO. This issue is decided in favour of the assessee.
|