https://www.taxtmi.com/caselaws?id=795522 For acquisition of immovable property, the first proviso to Section 56(2)(x) permits use of the stamp-duty value on the date of the agreement fixing consideration where registration occurs later and the prescribed payment condition is met. The notes state that an MoU fixed consideration and payment was made in 2013; therefore, the later registration-date ready-reckoner value could not govern the valuation, and the related addition was deleted. Penalty for under-reporting under Section 270A, being based solely on that addition, had no independent basis after its 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 acquisition of immovable property, the first proviso to Section 56(2)(x) permits use of the stamp-duty value on the date of the agreement fixing consideration where registration occurs later and the prescribed payment condition is met. The notes state that an MoU fixed consideration and payment was made in 2013; therefore, the later registration-date ready-reckoner value could not govern the valuation, and the related addition was deleted. Penalty for under-reporting under Section 270A, being based solely on that addition, had no independent basis after its deletion and was also deleted. Case-Laws Income Tax Fri, 17 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795522