https://www.taxtmi.com/caselaws?id=440134 The Tribunal upheld the CIT(A)'s decision to delete the addition of long term capital gain, rejecting the Revenue's arguments based on the timing of sale deeds execution and stamp valuation. The Tribunal supported the retrospective application of the amendment to Section 50C, considering the sale consideration as per the agreement to sell. It emphasized the finalized deal before the increase in stamp duty value and referenced previous cases to affirm the retrospective effect of the amendment. The Tribunal dismissed the Revenue's appeal in ITA No. 1292/DEL/2020, in line with decisions of co-ordinate benches and specific case circumstances. en-us Fri, 07 Jul 2023 00:00:00 +0530 Tue, 11 Jul 2023 08:30:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440134 The Tribunal upheld the CIT(A)'s decision to delete the addition of long term capital gain, rejecting the Revenue's arguments based on the timing of sale deeds execution and stamp valuation. The Tribunal supported the retrospective application of the amendment to Section 50C, considering the sale consideration as per the agreement to sell. It emphasized the finalized deal before the increase in stamp duty value and referenced previous cases to affirm the retrospective effect of the amendment. The Tribunal dismissed the Revenue's appeal in ITA No. 1292/DEL/2020, in line with decisions of co-ordinate benches and specific case circumstances. Case-Laws Income Tax Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440134