Section 50C Limited to Date of Actual Transfer, Not Later Escalation

Material Research Instruments Vs ACIT (ITAT Mumbai) Date of Agreement Prevails over Date of Registration: ITAT Applies Section 50C Provisos to Curb Notional Capital Gains The Mumbai Bench of the Income Tax Appellate Tribunal partly allowed the assessee’s appeal in a reassessment for AY 2006-07, holding that stamp duty value as on the date of agreement, and not the date of delayed registration, must be adopted for computing capital gains under section 50C, where statutory conditions are satisfied. The assessee had sold an inherited office property under an agreement dated 05.08.2005, receivin...