Pune ITAT: Section 43CA Cannot Be Applied to Pre-2013 Sale Agreements

Harmony Construction Vs ITO (ITAT Pune) Pune ITAT: Section 43CA Cannot Be Applied to Pre-2013 Sale Agreements The Pune ITAT held that Section 43CA cannot be invoked merely because the final sale deeds were executed after 1 April 2013 when the underlying agreements to sell had been registered and substantial consideration had already been received before the provision came into force. Accordingly, the Tribunal deleted the addition of ₹68.27 lakh made on the basis of higher stamp duty valuation. The assessee, a real estate developer, had sold certain flats during AY 2014-15. The Assessing Offi...