Section 56(2)(vii)(b) Addition Deleted: Why Pre-Amendment Law Applies to Property Booked in 2012

Dimple Rajesh Oswal Vs ITO (ITAT Pune) ITAT Pune Deletes 56(2)(vii)(b) Addition: Flat Booked & Paid for in 2012, Registration in 2016 Irrelevant – Pre-Amendment Law Applies In this case, Assessee , an individual, had booked a flat in February 2012 & made substantial payments (₹34.56 lakh out of ₹46.55 lakh) before 31.03.2013 based on an allotment letter. However, the sale deed was registered only in January 2016, & therefore the stamp duty authority adopted the 2016 ready reckoner value of ₹57.31 lakh, which was higher than the agreed consideration. AO reopened the assessme...