https://www.taxtmi.com/caselaws?id=456536 ITAT Mumbai ruled on LTCG computation under Section 50C where stamp duty value exceeded 110% of declared sale consideration. Court upheld DRP's rejection of appellant's Section 50C non-applicability claim but directed AO to use DVO's fair market value of INR 4,00,32,000 for LTCG calculation. Disallowed deductions for post-transfer valuation fees and personal travel expenses as unconnected to asset transfer. However, allowed deduction for transfer fee paid to housing society under Deed of Transfer clause, treating it as expense connected to capital asset transfer despite society's characterization as voluntary donation. en-us Tue, 26 Sep 2023 00:00:00 +0530 Wed, 31 Jul 2024 20:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456536 ITAT Mumbai ruled on LTCG computation under Section 50C where stamp duty value exceeded 110% of declared sale consideration. Court upheld DRP's rejection of appellant's Section 50C non-applicability claim but directed AO to use DVO's fair market value of INR 4,00,32,000 for LTCG calculation. Disallowed deductions for post-transfer valuation fees and personal travel expenses as unconnected to asset transfer. However, allowed deduction for transfer fee paid to housing society under Deed of Transfer clause, treating it as expense connected to capital asset transfer despite society's characterization as voluntary donation. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456536