Section 50C- ITAT deletes addition of 8% difference in Value

Shri B.S. Sanjay [HUF] Vs ITO (ITAT Bangalore)

In the present case, the sale consideration as per sale deed is Rs. 59.40 Lakhs and the value adopted by DVO u/s. 50C (2) is Rs. 64,10,400/- and therefore, the difference between these two values is of Rs. 4,70,400/- which is less about 8% of the sale consideration shown by the assessee. Respectfully following the Tribunal order cited by ld. AR of assessee having been rendered in the case of M/s. Please become a Premium member. If you are already a Premium member, login here to access the full content.