Bangalore ITAT Grants Relief in Section 50C Addition – DVO Valuation in Co-Owner’s Case Accepted Over Stamp Duty Value

Baby Vs ITO (ITAT Bangalore) In a notable ruling, the Bangalore ITAT granted substantial relief to a senior citizen assessee in a capital gains dispute by holding that the stamp duty value adopted u/s 50C cannot be mechanically applied when credible valuation evidence is available. The assessee had sold ancestral property along with 11 other co-owners and received a share consideration of ₹11.87 lakh. The Assessing Officer invoked section 50C and substituted the assessee’s declared sale consideration with the stamp duty value of ₹18.90 lakh, resulting in an addition of ₹7.94 lakh to ca...