https://www.taxtmi.com/caselaws?id=292057 The Tribunal allowed the Assessee's appeal against the addition under section 50C of the Income Tax Act for the Assessment Year 2012-13. The Tribunal applied the proviso to section 50C retrospectively, considering part payments made before the registration of the sale deed. As the sale consideration exceeded the stamp duty value on the agreement date, the addition was deleted, supported by sections 56(2)(vii) and 43CA. The decision aligned with precedents from the Ahmedabad Tribunal, leading to the successful outcome for the Assessee in this case. en-us Tue, 21 Aug 2018 00:00:00 +0530 Sat, 05 Dec 2020 12:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292057 The Tribunal allowed the Assessee's appeal against the addition under section 50C of the Income Tax Act for the Assessment Year 2012-13. The Tribunal applied the proviso to section 50C retrospectively, considering part payments made before the registration of the sale deed. As the sale consideration exceeded the stamp duty value on the agreement date, the addition was deleted, supported by sections 56(2)(vii) and 43CA. The decision aligned with precedents from the Ahmedabad Tribunal, leading to the successful outcome for the Assessee in this case. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292057