https://www.taxtmi.com/caselaws?id=768831 The ITAT Ahmedabad held that Section 50C addition based on difference between Jantri rate and actual sale consideration was not applicable. The tribunal found that since the assessee received payments through account payee cheques before the effective date of new Jantri rate (01.04.2011), the assessee was protected under Section 50C(1) provisions. The Act requires consideration of agreement date for stamp duty value determination and comparison with SRO value on registration date, but only applies when consideration is received by account payee cheque. The assessee's appeal was allowed. en-us Wed, 09 Apr 2025 00:00:00 +0530 Tue, 15 Apr 2025 08:34:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768831 The ITAT Ahmedabad held that Section 50C addition based on difference between Jantri rate and actual sale consideration was not applicable. The tribunal found that since the assessee received payments through account payee cheques before the effective date of new Jantri rate (01.04.2011), the assessee was protected under Section 50C(1) provisions. The Act requires consideration of agreement date for stamp duty value determination and comparison with SRO value on registration date, but only applies when consideration is received by account payee cheque. The assessee's appeal was allowed. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768831