S. 50C Relevant Date for Determination of Stamp Duty Value

M/s. Lahiri Promoters Vs. ACIT (ITAT Vishakapatnam) ITA No. 12/Vizag/2009 Dated 22.06.2010 The assessee, a partnership firm, filed its return of income for asst. year 2006- 07 declaring the income under the head Capital Gains at Rs. 28,767,565/-, which are related to the gains obtained on sale of three immovable properties. In respect of two properties, the market value of properties for the purposes of stamp duty valuation was shown at Rs. 36,98,500/- and Rs. 38,56,500/- respectively. However the apparent sale consideration of the said two properties was shown at Rs. 29,31,000/- and Rs. 30,70...