Section 43CA Addition Deleted – ITAT Mumbai Upholds Agreement Date

Excel Developers Vs ITO (ITAT Mumbai) ITAT Mumbai Deletes Addition u/s 43CA on Sale of Flat – Benefit of Agreement Date & Earlier Payments Allowed In this case, Excel Developers, a builder & developer, filed appeal against order of CIT(A) confirming addition of Rs.9,05,500 u/s 43CA on account of difference between agreement value & stamp duty valuation in respect of sale of Flat. AO noted that flat was sold for Rs.37,21,000 as per agreement while stamp duty valuation was Rs.46,26,500, resulting in difference of Rs.9,05,500, which was added u/s 43CA. CIT(A) upheld addition rejecti...