Tribunal held that, stamp duty valuation authority had not adopted the value, and it was the party agreed to pay stamp duty at an enhanced value. The payment of higher stamp duty by the vendee did not affect any rights of the assessee. The stamp duty valuation authority cannot object to payment of higher stamp duty by the vendees. The area sold by the assessee was far more than the value sought to be adopted for the purpose of stamp duty. Accordingly the addition made by the AO is not justified. (AY. 2012-13)
Mahinabanu Nainabanu Sipai (Jadeja) (Smt.) v. Dy. CIT (2019) 76 ITR 32 (SN) (Ahd.)(Trib.) Anvarmiya Alamiya Sipai (Jadeja) v. Dy. CIT (2019) 76 ITR 32 (SN) (Ahd.)(Trib.) Husenmiya Nanumiyan Sipai (Jadeja) v. Dy. CIT (2019) 76 ITR 32 (SN) (Ahd.)(Trib.) Bhikhumeeya Alammiya Sipai v. Dy. CIT (2019) 76 ITR 32 (SN) (Ahd.)(Trib.)
S. 50C : Capital gains-Full value of consideration-Stamp valuation-The payment of higher stamp duty by the vendee did not affect any rights of the assessee-Sale consideration disclosed jointly was far more than the value sought to be adopted for the purpose of stamp duty-Addition is deleted. [S. 45]