Stamp Duty Value on Agreement Date Applies for Pre-Registration Payments in Joint Property Ownership.

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Full Text of the Document

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....Addition u/s 56(2)(x) relates to joint ownership of property. If the consideration amount is fixed on the agreement date but registration occurs later, the stamp duty value on the agreement date should be considered. However, this applies only when the consideration is paid through banking channels before registration. In the present case, payments were made through proper channels before registration. Although the allotment letter is not a registered agreement, it contains agreed terms and conditions, making it covered under the proviso to section 56(2)(x). Since the assessee agreed to purchase the under-construction property in 2016 through the allotment letter and made payments before registration, the stamp duty value on the allotment d.........