Section 50C Date Shift Allowed; Stamp Value to Be Taken as on Agreement Date

Monica Bibbly Sood Vs ITO (ITAT Chandigarh) The ITAT, Chandigarh Bench held that where agreement to sell precedes registration and part consideration is received through banking channels, the stamp duty value as on the date of agreement—and not the registration date—must be adopted for s.50C purposes. In this case, the assessee sold an industrial shed for ₹4.80 crore. Though registration took place in May 2012, a binding agreement was executed in March 2012, and the assessee had already received over ₹1.80 crore via account-payee cheques on 12.03.2012 & 15.03.2012. Despite satisfyi...