https://www.taxtmi.com/caselaws?id=790460 A document fixing consideration, identifying the property, and setting a payment schedule linked to construction milestones can be treated as an agreement to sell for the proviso to section 56(2)(x), rather than a mere letter of intent. On that basis, stamp duty value is to be taken with reference to the allotment date. Where the property is jointly allotted and the consideration and ownership are shared equally, the valuation and resulting addition must be confined to the assessee's proportionate 50% share. The matter was restored for limited re-determination accordingly, granting relief on the core valuation issue. en-us Mon, 30 Mar 2026 00:00:00 +0530 Fri, 24 Apr 2026 17:38:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790460 A document fixing consideration, identifying the property, and setting a payment schedule linked to construction milestones can be treated as an agreement to sell for the proviso to section 56(2)(x), rather than a mere letter of intent. On that basis, stamp duty value is to be taken with reference to the allotment date. Where the property is jointly allotted and the consideration and ownership are shared equally, the valuation and resulting addition must be confined to the assessee's proportionate 50% share. The matter was restored for limited re-determination accordingly, granting relief on the core valuation issue. Case-Laws Income Tax Mon, 30 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790460