Held that the first proviso to section 50C specified that in a case where the date of agreement fixing the amount of consideration and the date of registration of the transfer of capital asset are not the same, the value adopted or assessed by the Stamp Valuation Authority or the date of agreement may be taken for the purpose of computing the full value of consideration for such transfer. The second proviso to section 50C specified that the benefit of the first proviso shall apply only in a case where the amount of consideration, or part thereof has been received by way of account payee cheque or by banking channels. Part payment of the consideration was received by the assessee prior to execution of the agreement to sell in the month of June 2011, which the bank statement of the assessee established. According to the jantri rate applicable as on August 1, 2011 (sale agreement date) was Rs. 64,82,526, whereas the assessee had received Rs. 1.94 crores, which was much more than the agreed price. The assessee was entitled to the benefit of first and second provisos to section 50C. Hence, the addition made by the Assessing Officer by invoking the provisions of section 50C is deleted.(AY.2013-14)