https://www.taxtmi.com/caselaws?id=470132 For computing deemed income from property received for inadequate consideration, the first proviso to section 56(2)(x) permits use of the stamp-duty value on the agreement date rather than the registration date where the dates differ. The further proviso applies when whole or part of the consideration is paid by the prescribed banking mode on or before the agreement date. Where allotment was finalised and part consideration was paid by account-payee cheque on that date, the applicable circle rate was that prevailing in the relevant financial year of allotment. As the resulting difference was within the permissible tolerance limit, no addition was warranted. en-us Mon, 17 Mar 2025 00:00:00 +0530 Thu, 16 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470132 For computing deemed income from property received for inadequate consideration, the first proviso to section 56(2)(x) permits use of the stamp-duty value on the agreement date rather than the registration date where the dates differ. The further proviso applies when whole or part of the consideration is paid by the prescribed banking mode on or before the agreement date. Where allotment was finalised and part consideration was paid by account-payee cheque on that date, the applicable circle rate was that prevailing in the relevant financial year of allotment. As the resulting difference was within the permissible tolerance limit, no addition was warranted. Case-Laws Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470132