Property Sales Tax Relief: Section 43CA Allows 10% Variance Between Sale Price and Stamp Duty Valuation

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....ITAT ruled that for property sales under Section 43CA, stamp duty valuation can be accepted if the sale consideration differs by less than 10% from the registered valuation. The AO must delete tax additions where: (1) part consideration was received via account payee cheque, (2) transfer mode complies with statutory requirements, and (3) difference between actual sale price and stamp duty valuation is within 10% threshold. The assessee must provide supporting documentation to substantiate the claim, with the AO directed to grant relief accordingly. Ground nos. 1 & 2 were allowed, providing tax relief consistent with the statutory provisions.....