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2024 (5) TMI 842 - ITAT AHMEDABADLTCG - Addition u/s 50C - property sold by the assessee company was litigated property - difference between the valuation adopted by the Stamp Valuation Authority or that declared by the appellant - assessee in the details filed in Income Tax Return did not consider the Jantri Value in computation of gain - HELD THAT:- Issue decided in favour of assessee as relying on Bhojison Infrastructure Pvt. Ltd. [2023 (3) TMI 116 - ITAT AHMEDABAD] wherein on perusal of the records it can be seen that in the return of income in respect of land and the value as determined by the DVO is approximately 8.95% higher but less than 10%. This was never disputed or controverted by the Revenue at any point of time. As per third proviso to Section 50C brought on statute w.e.f. 01.04.2019, the Tribunal on various occasions has applied the said proviso retrospectively as the difference is less than 10% in the actual value taken than the DVO’s value. Assessee ground is allowed.
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