Full value of consideration cannot be replaced by FMV if it exceeds stamp duty value

IN THE ITAT DELHI BENCH ‘B’ Eldeco Infrastructure & Properties Ltd. v. Commissioner of Income-tax, Delhi-IV IT Appeal NO. 3677 (DELHI) OF 2011 [ASSESSMENT YEAR 2008-09] MARCH 30, 2012 ORDER Rajpal Yadav, Judicial Member  The assessee is in appeal before us against the order of Learned Commissioner dated 22.06.2011 passed for assessment year 2008-09 under section 263 of the Income-tax Act, 1961. The grounds of appeals taken by the assessee are not in consonance with Rule 8 of the ITAT’s Rules, they are descriptive and argumentative in nature. In brief, t...