https://www.taxtmi.com/caselaws?id=312432 The ITAT Mumbai allowed the assessee's appeal regarding addition under section 43CA. The AO had accepted the assessee's contention that ready reckoner value on the allotment date should be considered, but the CIT(A) contradicted this by holding that stamp value date on registration must be adopted. The ITAT found the CIT(A)'s conclusion contrary to the AO's findings. Additionally, the agreements were entered before section 43CA's effective date of 01.04.2013, and the difference between ready reckoner rate and sale consideration was only 5%, which should be ignored per Krishna Enterprises precedent. en-us Thu, 27 Jan 2022 00:00:00 +0530 Sat, 17 Feb 2024 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312432 The ITAT Mumbai allowed the assessee's appeal regarding addition under section 43CA. The AO had accepted the assessee's contention that ready reckoner value on the allotment date should be considered, but the CIT(A) contradicted this by holding that stamp value date on registration must be adopted. The ITAT found the CIT(A)'s conclusion contrary to the AO's findings. Additionally, the agreements were entered before section 43CA's effective date of 01.04.2013, and the difference between ready reckoner rate and sale consideration was only 5%, which should be ignored per Krishna Enterprises precedent. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312432