https://www.taxtmi.com/caselaws?id=757462 The amended third proviso to section 50C(1), introducing a 5% tolerance band where stamp duty value exceeds declared consideration only marginally, was treated as a curative and beneficial provision applicable retrospectively. On the facts, the stamp duty valuation of Rs. 67,81,105 exceeded the declared sale consideration of Rs. 67,11,000 by about 1.04%, so the actual sale consideration was required to be adopted for computing long-term capital gains. The related deduction under section 54F was also to be recomputed accordingly, and the appellate tribunal found no error in that approach. en-us Wed, 07 Feb 2024 00:00:00 +0530 Sat, 24 Aug 2024 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757462 The amended third proviso to section 50C(1), introducing a 5% tolerance band where stamp duty value exceeds declared consideration only marginally, was treated as a curative and beneficial provision applicable retrospectively. On the facts, the stamp duty valuation of Rs. 67,81,105 exceeded the declared sale consideration of Rs. 67,11,000 by about 1.04%, so the actual sale consideration was required to be adopted for computing long-term capital gains. The related deduction under section 54F was also to be recomputed accordingly, and the appellate tribunal found no error in that approach. Case-Laws Income Tax Wed, 07 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757462