https://www.taxtmi.com/caselaws?id=795522 For immovable property acquired under an agreement fixing consideration before later registration, the first proviso to Section 56(2)(x) permits adoption of the stamp-duty value prevailing on the agreement date, provided the stipulated consideration was paid in the prescribed manner. Where consideration was fixed and payment made in 2013, a later 2017 agreement and registration did not justify applying the subsequent ready-reckoner value. The resulting addition was deleted. Penalty for under-reporting under Section 270A, being based solely on that addition, lacked an independent basis after deletion and was also deleted. en-us Fri, 17 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795522 For immovable property acquired under an agreement fixing consideration before later registration, the first proviso to Section 56(2)(x) permits adoption of the stamp-duty value prevailing on the agreement date, provided the stipulated consideration was paid in the prescribed manner. Where consideration was fixed and payment made in 2013, a later 2017 agreement and registration did not justify applying the subsequent ready-reckoner value. The resulting addition was deleted. Penalty for under-reporting under Section 270A, being based solely on that addition, lacked an independent basis after deletion and was also deleted. Case-Laws Income Tax Fri, 17 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795522