Allowing the appeal the Court held that amendment made in scheme of section 50C(1), by inserting third proviso thereto and by enhancing tolerance band for variations between stated sale consideration vis-à-vis stamp duty valuation from 5 per cent to 10 per cent are effective from date on which section 50C, itself was introduced, i.e 1-4-2003. (AY. 2012-13)
Amrapali Cinema v. ACIT (2021) 190 ITD 36 (Delhi)(Trib.)
S. 50C : Capital gains-Full value of consideration-Stamp valuation-Safe harbour-Variation from 5 percent to 10 percent-Effective from the date on which section 50C was introduced. i.e. 1-4-2003 [S. 50C(1), 45]