In absence of malfide or false claim AO not justified in taking hyper technical view

Shri Ashutosh Jha (HUF) Vs. ITO (ITAT Kolkata)

The claim of the assessee has been that the assessee had purchased the property at a lower rate as per the value mentioned in the agreement to purchase dated 19-07-2012. However, the Ld. AO has adopted the stamp duty value as on date of sale i.e. 28-05-2013.

The Ld.AO rejected the contention of the assessee that part payment was made at the time of execution of the agreement to purchase i.e. 19-07-2012 through banking channel on the ground that the said c

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