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ITO v. Raj Kumar Parashar ( 2018) 195 TTJ 212 / 169 DTR 142( Jaipur)(Trib),www.itatonline.org

S. 50C : Capital gains-Full value of consideration- Stamp valuation-If the assessee has invested the entire sale consideration in new house property, the capital gains are exempt u/s 54F. The AO cannot apply s. 50C and treat the stamp duty valuation as the consideration and assess the difference between the stamp duty valuation and the actual valuation to capital gains.[ S.54F ]

Dismissing the appeal of the revenue the Tribunal held that ; If the assessee has invested the entire sale consideration in new house property, the capital gains are exempt u/s 54F. The AO cannot apply s. 50C and treat the stamp duty valuation as the consideration and assess the difference between the stamp duty valuation and the actual valuation to capital gains.( ITA No. 11/JP/2016, dt. 28/09/2017.)(AY. 2011-12)

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