Dismissing the appeal of the assessee the Tribunal held that accepting the claim of considering sale consideration as per agreement, instead of jantri value on which stamp duty was collected as sale consideration under section 50C for computation of capital gains, which was clearly unsustainable. Revision is held to be justified. (AY. 2012-13)
Babulal S. Solanki v. ITO (2019) 176 ITD 642/ 181 DTR 25 (Ahd.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue- Stamp valuation–Accepting the claim as per agreement– Provision of S.50C is applicable-Revision is held to be valid. [S. 45, 50C]