Held that the Stamp duty valuation of the property being more than the consideration shown in the sale deed, the AO and the CIT(A) were justified in applying the provisions of S. 50C and adopting the stamp duty value as the full value of consideration in place of the sale deed value. The Assessee has not made a request for referring to DVO (AY.2012-13)
Dilip Mohandas Devani v. ITO (2025) 237 TTJ 1098 (Ahd)(Trib)
S. 50C: Capital gains-Full value of consideration-Stamp valuation-The stamp duty paid on the transaction showed a higher stamp duty valuation-No request was made for referring to DVO-The CIT(A) has rightly applied the provisions of S. 50C by adopting the stamp duty value as the full value of consideration in place of the sale deed value.[S. 45]
Leave a Reply