https://www.taxtmi.com/caselaws?id=421505 The Tribunal upheld the CIT(A)'s decision that the proviso to Section 50C is retrospective, allowing the stamp duty valuation authority's value on the agreement date to be used for computing consideration. The amended provisions were applied in favor of the assessee, directing the computation of capital gains based on the agreement date's value. Capital gains were to be determined using the sale agreement date's fair market value, not the registration date. The appeal by the Revenue was dismissed, affirming the CIT(A)'s order, emphasizing the curative nature of the amendment, and ensuring fair treatment of the assessee. en-us Tue, 22 Mar 2022 00:00:00 +0530 Tue, 26 Apr 2022 08:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421505 The Tribunal upheld the CIT(A)'s decision that the proviso to Section 50C is retrospective, allowing the stamp duty valuation authority's value on the agreement date to be used for computing consideration. The amended provisions were applied in favor of the assessee, directing the computation of capital gains based on the agreement date's value. Capital gains were to be determined using the sale agreement date's fair market value, not the registration date. The appeal by the Revenue was dismissed, affirming the CIT(A)'s order, emphasizing the curative nature of the amendment, and ensuring fair treatment of the assessee. Case-Laws Income Tax Tue, 22 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421505