Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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Deduction u/s 54 - The agreement to purchase new house property never fructified into registered Sale Deed till date - till actual conveyance happens, it could not be said that the assessee has purchased the houses property. Another fact to be noted is that the agreement has never fructified into registered sale deed till date despite the fact that the assessee has paid full consideration of Rs.165 Lacs and the document was executed on 30-03-2012. No valid circumstances which have impeded the registration of final deed have been adduced by the assessee. - the unregistered document as entered into by the assessee could not be considered as fulfilment of requirement of Sec.54 - AT
Deduction u/s 54 - The agreement to purchase new house property never fructified into registered Sale Deed till date - till actual conveyance happens, it could not be said that the assessee has purchased the houses property. Another fact to be noted is that the agreement has never fructified into registered sale deed till date despite the fact that the assessee has paid full consideration of Rs.165 Lacs and the document was executed on 30-03-2012. No valid circumstances which have impeded the registration of final deed have been adduced by the assessee. - the unregistered document as entered into by the assessee could not be considered as fulfilment of requirement of Sec.54 - AT
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