The assessee, engaged in the business of development and construction, sold flats pursuant to agreements under which part of the consideration had been received in advance through account payee cheques. The sale deeds were executed subsequently, by which time the stamp duty value had increased. The Assessing Officer invoked section 43CA and made an addition on the basis of the higher stamp duty valuation prevailing on the date of registration. The Tribunal held that where part of the consideration had been received by account payee cheque on the date of the agreement, sections 43CA(3) and 43CA(4) mandated adoption of the stamp duty value as on the date of the agreement. Accordingly, no addition could be made merely because the stamp duty value had increased on the date of registration. (AY. 2014-15)