https://www.taxtmi.com/caselaws?id=400235 The Court found in favor of the appellant in a tax case appeal regarding the correctness of stamp duty value for capital gains tax. It held that the stamp duty value fixed by the District Registrar's Office was incorrect for a property sold in June 2009, as it differed from the actual sale consideration. The Court emphasized the relevance of the stamp duty value at the time of presenting the sale document for registration under Section 50C of the Income Tax Act. The Assessing Officer's error in recomputing the total sale consideration based on a higher stamp duty value was deemed erroneous, leading to the Tribunal's order being set aside in favor of the assessee. en-us Tue, 13 Oct 2020 00:00:00 +0530 Sat, 31 Oct 2020 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400235 The Court found in favor of the appellant in a tax case appeal regarding the correctness of stamp duty value for capital gains tax. It held that the stamp duty value fixed by the District Registrar's Office was incorrect for a property sold in June 2009, as it differed from the actual sale consideration. The Court emphasized the relevance of the stamp duty value at the time of presenting the sale document for registration under Section 50C of the Income Tax Act. The Assessing Officer's error in recomputing the total sale consideration based on a higher stamp duty value was deemed erroneous, leading to the Tribunal's order being set aside in favor of the assessee. Case-Laws Income Tax Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400235