https://www.taxtmi.com/caselaws?id=438998 ITAT Pune considered two income-tax issues: exemption under section 54F on transfer of leasehold rights, and a section 68 addition for sundry creditor balances. For section 54F, an assignment deed executed in anticipation of MIDC consent was treated as valid once consent was later granted, and prior purchase of stamp paper did not invalidate the instrument because the Stamp Act does not prescribe an expiry for stamp paper; the exemption was allowed. On section 68, the assessee's claim of a mistaken accounting entry, supported by later-year records and VAT reconciliation, required fresh verification; the addition was set aside and remanded to the AO. en-us Mon, 12 Jun 2023 00:00:00 +0530 Tue, 13 Jun 2023 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438998 ITAT Pune considered two income-tax issues: exemption under section 54F on transfer of leasehold rights, and a section 68 addition for sundry creditor balances. For section 54F, an assignment deed executed in anticipation of MIDC consent was treated as valid once consent was later granted, and prior purchase of stamp paper did not invalidate the instrument because the Stamp Act does not prescribe an expiry for stamp paper; the exemption was allowed. On section 68, the assessee's claim of a mistaken accounting entry, supported by later-year records and VAT reconciliation, required fresh verification; the addition was set aside and remanded to the AO. Case-Laws Income Tax Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438998