#tolerance band

Kolkata ITAT rules the 10% tolerance band under Section 43CA applies to past transfers, granting relief where sale consideration is within 10% of stamp duty valuation. The ruling impacts real estate transactions assessed under the Income Tax Act, offering retrospective clarity for taxpayers facing valuation disputes.

ITAT Mumbai rules that the 10% tolerance band under Section 56(2)(x)(b) of the Income Tax Act applies retrospectively, deleting additions where the fair market value excess is below the threshold. This holding clarifies the retrospective applicability of the tolerance band, impacting tax assessments involving stamp duty valuations.