https://www.taxtmi.com/caselaws?id=409405 The Tribunal partly allowed the appeal in the case involving additions under Section 50C of the Income Tax Act and disallowance of cost of indexation. It directed the Assessing Officer to consider the stamp duty valuation as of 29.09.2010 for Section 50C purposes if the agreement to sell and partial consideration were received through banking channels. Additionally, the Tribunal instructed the AO to apply the rate of Rs. 607 per sq. meter for calculating the indexed cost of acquisition for the purpose of computing Long Term Capital Gain. en-us Wed, 30 Jun 2021 00:00:00 +0530 Tue, 11 Oct 2022 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409405 The Tribunal partly allowed the appeal in the case involving additions under Section 50C of the Income Tax Act and disallowance of cost of indexation. It directed the Assessing Officer to consider the stamp duty valuation as of 29.09.2010 for Section 50C purposes if the agreement to sell and partial consideration were received through banking channels. Additionally, the Tribunal instructed the AO to apply the rate of Rs. 607 per sq. meter for calculating the indexed cost of acquisition for the purpose of computing Long Term Capital Gain. Case-Laws Income Tax Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409405