Case Law Analysis
|Income Tax Appellate Tribunal
Section 50C IT Act | Stamp Duty Valuation for Capital Gains Must Reflect Agreement Date, Not Registration Date : ITAT Mumbai
ITAT Mumbai rules that for capital gains computation under Section 50C, the stamp duty valuation must be pegged to the date of the sale agreement-not registration-if the consideration was received prior to registration. This holding clarifies the timing for deeming provisions and prevents arbitrary additions to taxable income.