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2021 (9) TMI 212 - AT - Income TaxAddition u/s. 56(2)(vii)(b) - difference between actual consideration paid and value determined by stamp valuation authority in respect of a residential flat purchased under construction - notional difference in the amount of stamp duty value and the actual consideration paid for purchasing the flat - HELD THAT:- The assessee has entered into an agreement and consequently assessee has been duly given allotment letter and assessee has also paid part of the consideration at that time, hence, there is no infirmity in the assessee’s request that the date of allotment should be considered as date of agreement. Hon'ble Supreme Court decision in the case of Sanjeev Lal Vs. CIT [2014 (7) TMI 99 - SUPREME COURT] in this regard supports the above proposition. Accordingly, we set aside the orders of the authorities below and decide the issue in favour of the assessee.
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