Tribunal held that, the adoption of stamp valuation as the sale consideration is not justified in absence of any evidence that the sale consideration was more than the value shown in the agreement. The AO has not brought on record that the property under sale was not was under various encumbrances and the assessee was having the absolute marketable title of the said property. Addition is held to be not valid. (ITA No. 2243/Mum/2015, dt. 08.03.2019) (AY. 2011-12)
Sir Mohd. Yusuf Trust v. ACIT( 2019) 178 DTR 73 / 199 TTJ 902 (Mum.)(Trib.), www.itatonlie.org
S. 50C : Capital gains-Full value of consideration- stamp valuation-The adoption of stamp valuation as the sale consideration is not justified in absence of any evidence that the sale consideration was more than the value shown in the agreement-The AO has not brought on record that the property under sale was not was under various encumbrances and the assessee was having the absolute marketable title of the said property- Addition is held to be not valid.[S. 45]