https://www.taxtmi.com/caselaws?id=458792 The ITAT Mumbai held that amendments to Section 43CA regarding sale of immovable properties below stamp duty value are retrospective. The assessee sold flats with differences between declared consideration and stamp duty values ranging from 5.37% to 28.7%. Applying the 10% tolerance band proviso, the tribunal ruled that differences below 10% fall outside Section 43CA provisions. For one flat with 10.06% difference, the tribunal directed exclusion due to the marginal excess. The appeal was partly allowed, with no additions required under Section 43CA for properties within the tolerance limit. en-us Wed, 15 Mar 2023 00:00:00 +0530 Fri, 15 Nov 2024 18:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458792 The ITAT Mumbai held that amendments to Section 43CA regarding sale of immovable properties below stamp duty value are retrospective. The assessee sold flats with differences between declared consideration and stamp duty values ranging from 5.37% to 28.7%. Applying the 10% tolerance band proviso, the tribunal ruled that differences below 10% fall outside Section 43CA provisions. For one flat with 10.06% difference, the tribunal directed exclusion due to the marginal excess. The appeal was partly allowed, with no additions required under Section 43CA for properties within the tolerance limit. Case-Laws Income Tax Wed, 15 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458792