Held that since the allotment letters were issued and initial payments were received prior to coming in to force of section 43CA , the provision does not apply to those cases . Tribunal also held that the difference between ready reckoner rate and sale consideration was only 5 % the same needs to be ignored . Referred Krishna Enterprises v. ACIT . ( TS-63 -ITAT -2022 (Mum) ( AY. 2014-15)( Dt. 27 -1 2022 )
Spenta Enterprises v .PCIT ( 2022) BCAJ -March – P. 39 (Mum)( Trib)
S.43CA: Transfer of assets- other than capital assets- Full value of consideration- stock in trade-Agreement value – Stamp valuation – Allotment letter – Where allotment letters are issued and part payments are received prior to Ist April , 2013 – Provision of section 43CA does not apply – Difference less than 5% – Provision does not apply . [ S.50C ]