| COURT: | ITAT Delhi |
| CORAM: | A. T. Varkey (JM), T. S. Kapoor (AM) |
| SECTION(S): | 50C |
| GENRE: | Domestic Tax |
| CATCH WORDS: | capital gains |
| COUNSEL: | Santosh Agarwal |
| DATE: | January 9, 2015 (Date of pronouncement) |
| DATE: | January 12, 2015 (Date of publication) |
| AY: | 2005-06 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 50C: The consideration has to be determined on the basis of the circle-rate prevailing on the date of execution of sale deed and not on the basis of the circle-rate prevailing on the date of registration of the sale deed | |
It is manifest that u/s 50C, the value adopted by the stamp-valuation authority is deemed as the consideration for computation of capital gain. However, such valuation adopted by the stamp-valuation authority should be in respect of the transfer by the assessee, of the capital assets. This enhancement was beyond the control of the assessee (seller). It is also not the case of the revenue, that the buyer has given more than the consideration that has been accepted by the parties where they executed the agreement to sale.
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