Stamp duty value on agreement date relevant for Section 56(2)(vii)(b): ITAT Mumbai

Poonam Ramesh Sahajwani Vs ITO (IT) (ITAT Mumbai) Income Tax Act, Section 56(2)(vii)(b):  The stamp duty value on the date of the agreement may be taken for the purpose of this sub-clause 56(2)(vii)(b) Facts: 1. The taxpayer, Ms. Poonam Ramesh Sahajwani, booked a residential flat in Mumbai in 2012 for a total consideration of Rs. 1,05,60,000. 2. She paid a booking amount of Rs. 27,50,000 in 2012. 3. The sale agreement was executed in 2014. 4. The stamp duty value of the flat as of the date of booking was Rs. 98,68,000, while the stamp duty value as of the date of the sale agreement was Rs. ...