https://www.taxtmi.com/caselaws?id=450874 ITAT Indore denied benefit of first proviso to section 50C(1) to assessee who claimed consideration value in agreement should be used instead of stamp valuation for capital gains computation. Assessee argued post-dated cheque received 09.10.2006 (cleared 11.10.2006) should be treated as received on agreement date 29.09.2006. Tribunal rejected this, stating accepting such argument would allow bypassing section 50C(1) requirements through manipulation. However, ITAT allowed section 54B exemption for investment in new land made after sale agreement execution but before registration, following established judicial precedents favoring assessee on this issue. en-us Wed, 28 Feb 2024 00:00:00 +0530 Mon, 16 Mar 2026 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450874 ITAT Indore denied benefit of first proviso to section 50C(1) to assessee who claimed consideration value in agreement should be used instead of stamp valuation for capital gains computation. Assessee argued post-dated cheque received 09.10.2006 (cleared 11.10.2006) should be treated as received on agreement date 29.09.2006. Tribunal rejected this, stating accepting such argument would allow bypassing section 50C(1) requirements through manipulation. However, ITAT allowed section 54B exemption for investment in new land made after sale agreement execution but before registration, following established judicial precedents favoring assessee on this issue. Case-Laws Income Tax Wed, 28 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450874