Tribunal held that for purpose of S. 54F, what is relevant is investment of net consideration. Valuation determined by Stamp authority is relevant for the purpose of S.50C, however the said valuation, is not a consideration which has been received by or has accrued to assessee. Accordingly when an assessee invested entire net consideration had been invested is entitle to exemption in respect of whole of capital gains.
Anant Chetan Agarwal v. DCIT (2018) 172 ITD 525 (Luck.) (Trib.)
S. 54F : Capital gains-Investment in a residential house–Entire net consideration had been invested-Entitle to exemption in respect of whole of capital gains-Valuation determined by stamp authority is relevant for determination u/s.50C however it cannot be considered as consideration received or accrued to the assessee for the purpose of S.54F of the Act. [S. 45, 48, 50C]