Letter of Approval for IFSC units authorises SEZ facilities subject to statutory approvals, operational conditions, validity, renewal and cancellation...
In an ITAT decision on section 50C, the Tribunal held that where agricultural land was sold under a single arrangement and the entire consideration was received by cheque at the time of the agreement to sell, the stamp duty value on the later registration dates could not be treated as the full value of consideration. It accepted the assessee's evidence of the December 2007 agreement and related valuation material, and treated the curative amendment to section 50C as retrospective. The relevant stamp valuation was therefore the value prevailing on the agreement date, and the addition made under section 50C was deleted.
In an ITAT decision on section 50C, the Tribunal held that where agricultural land was sold under a single arrangement and the entire consideration was received by cheque at the time of the agreement to sell, the stamp duty value on the later registration dates could not be treated as the full value of consideration. It accepted the assessee's evidence of the December 2007 agreement and related valuation material, and treated the curative amendment to section 50C as retrospective. The relevant stamp valuation was therefore the value prevailing on the agreement date, and the addition made under section 50C was deleted.
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