Tribunal held that though the 3rd Proviso to S. 50C, which provides a safe harbour of 5%, applies w.e.f. 01.04.2019, it must be interpreted to apply since the insertion of S. 50C (01.04.2003) because it is curative and removes an incongruity and avoids undue hardship to assesseess . (ITA No. ITA No.2351/Kol/2017, dt. 09.08.2019)( AY. 2014-15)
Chandra Prakash Jhunjhunwala v. DCIT ( 2019) 201 TTJ 831/( 2020) 181 ITD 185 /188 DTR 108 (Kol)(Trib), www.itatonline.org
S. 50C : Capital gains-Full value of consideration- stamp valuation- Though the 3rd Proviso to S. 50C, which provides a safe harbour of 5%, applies w.e.f. 01.04.2019, it must be interpreted to apply since the insertion of s. 50C (01.04.2003) because it is curative and removes an incongruity and avoids undue hardship to assessees. [ S. 43CA, 45 ]