https://www.taxtmi.com/caselaws?id=331469 A registered lease deed supported by stamp duty payment and authority approval was treated as genuine, and section 50C was applied only to the value actually adopted or assessed by the Stamp Valuation Authority for that deed, not to any hypothetical higher value. The Assessing Officer could not further substitute a notional lease rent where the actual lease rent had been received and the arrangement was for a specific development purpose. Deduction under section 80-IB(10) was upheld for the housing project on the approved facts, while the additional ground on year of taxability and consequential deduction was remanded for factual verification. en-us Fri, 08 Jan 2016 00:00:00 +0530 Fri, 12 Aug 2016 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331469 A registered lease deed supported by stamp duty payment and authority approval was treated as genuine, and section 50C was applied only to the value actually adopted or assessed by the Stamp Valuation Authority for that deed, not to any hypothetical higher value. The Assessing Officer could not further substitute a notional lease rent where the actual lease rent had been received and the arrangement was for a specific development purpose. Deduction under section 80-IB(10) was upheld for the housing project on the approved facts, while the additional ground on year of taxability and consequential deduction was remanded for factual verification. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331469