2026 (4) TMI 1312

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....rwal, Sr. DR ORDER PER B.M. BIYANI, A.M.: Feeling aggrieved by order of first appeal dated 23.09.2025 passed by learned Commissioner of Income-Tax (Appeals)-3, Bhopal ["CIT(A)"], which in turn arises out of assessment-order dated 06.12.2019 passed by learned DCIT, Central Circle-2, Bhopal ["AO"] u/s 143(3) of Income-tax Act, 1961 ["the Act"] for Assessment-Year ["AY"] 2017-18, the assesse....

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....s the valuation done by stamps authority was Rs. 85,00,000/- (assessee's ½ share - Rs. 42,50,000/-). While the assessee computed taxable capital gain by taking Rs. 42,00,000/- as full value of consideration, the lower authorities invoked section 50C and adopted Rs. 42,50,000/-. The assessee is aggrieved by action of lower authorities. 3. Ld. AR for assessee made a straightforward submiss....

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....e are concerned in this appeal, Ld. AR relied upon following decisions wherein it has been held that the Proviso, though introduced subsequently through Finance Act, 2018, would apply retrospectively from 01.04.2003 i.e. when the section 50C itself was introduced in statute: (i) ITAT, Mumbai in Maria Fernandes Cheryl Vs. ITO, (2021) 123 taxmann.com 252 (Mumbai - Trib.) (ii) ITAT,....

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.... not exceed 5% of the actual sale consideration. In present case, the actual sale consideration (assessee's ½ share) was Rs. 42,00,000/- whereas the stamp duty valuation (assessee's ½ share) was Rs. 42,50,000/-. The difference of Rs. 50,000/- works out to approximately 1.19% of the actual sale consideration, which is well within the safe harbour limit of 5% prescribed under t....