Tribunal held that, an agreement to sell was executed by assessee on 8-2-2010 and Sale deed was executed and registered on 5-6-2012 .In view of proviso to S.50C capital gain was to be computed on basis of stamp duty valuation rate prevailing on date of agreement to sell-Matter was to be remanded to Assessing officer to determine sale value of property on basis of circle rate applicable on property on 8-2-2010, and thereafter compute long-term capital gain assessable in assessment year 2013-14 . ( AY. 2013-14)
Rahul G. Patel. v. DCIT (2018) 173 ITD 1/ 171 DTR 1 / 195 TTJ 1027 / 67 ITR 280(Ahd.)(Trib.)
S. 50C : Capital gains – Full value of consideration-Stamp valuation -An agreement to sell was executed by assessee on 8-2-2010 and Sale deed was executed and registered on 5-6-2012 – In view of proviso to S.50C capital gain was to be computed on basis of stamp duty valuation rate prevailing on date of agreement to sell -Matter was to be remanded to Assessing officer to determine sale value of property on basis of circle rate applicable on property on 8-2-2010, and thereafter compute long-term capital gain assessable in assessment year 2013-14 . [S. 45]