Curative 10% stamp duty tolerance band applies retrospectively, blocking section 56 deeming addition on marginal valuation difference.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The Tribunal held that the enhancement of the stamp duty valuation tolerance band from 5% to 10% was a curative, beneficial amendment applicable to A.Y. 2018-19, because it only relaxed the rigour of a deeming provision and did not create a new charge or fresh burden. It further held that the deeming fiction under section 56(2)(x)(b)(B) could not be invoked where the difference between the purchase consideration and the stamp duty value was 7.44%, being within the 10% band. The addition was deleted.....