https://www.taxtmi.com/caselaws?id=456834 ITAT Delhi upheld CIT(A)'s order deleting additions under Section 50C. AO incorrectly applied multiplicative factor of 3 for alleged misuse of agricultural land without proper authority permission. Tribunal held that multiplicative factor of 3 was misdirected as it was based on land abuse not envisaged by Delhi Government's stamp rules, which only prescribed factors 1, 2, and 3 for permissible land uses. Since such situation wasn't covered by Delhi stamp rules, factor of 3 was invalid. Assessee's appeal allowed. en-us Mon, 24 Feb 2020 00:00:00 +0530 Tue, 20 Aug 2024 23:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456834 ITAT Delhi upheld CIT(A)'s order deleting additions under Section 50C. AO incorrectly applied multiplicative factor of 3 for alleged misuse of agricultural land without proper authority permission. Tribunal held that multiplicative factor of 3 was misdirected as it was based on land abuse not envisaged by Delhi Government's stamp rules, which only prescribed factors 1, 2, and 3 for permissible land uses. Since such situation wasn't covered by Delhi stamp rules, factor of 3 was invalid. Assessee's appeal allowed. Case-Laws Income Tax Mon, 24 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456834