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2018 (1) TMI 1156 - AT - Income TaxCapital gain computation - market value of conveyance deed taken under section 50C - Held that:- In a situation in which there is significant difference between the point of time when agreement to sell is executed and when the sale deed is executed, therefore, should ideally be between the sale consideration as per registered sale deed, which is fixed by way of the agreement to sell, vis-à-vis the stamp duty valuation as at the point of time when agreement to sell, whereby sale consideration was in fact fixed, because, if at all any suppression of sale consideration should be assumed, it should be on the basis of stamp duty valuation as at the point of time when the sale consideration was fixed. We restore this issue back to the file of AO to verify whether ₹ 10,00,000/- was received by the assessee on the date of registration by cheque or not. If the assessee produces the evidence that he has received the money by cheque then the stamp valuation should be taken as on 19.08.2006 - Decided in favour of assessee for statistical purposes.
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