Stamp duty value on date of agreement is to be considered, if date of agreement fixing consideration and registration is different

ITO Vs Rajni D. Saini (ITAT Mumbai) ITAT Mumbai held that as per the provisions of 56(2)(vii)(b) of the Income Tax Act if the date of agreement fixing the consideration and date of registration are not in same, the stamp duty value may be taken as on the date of agreement fixing the consideration, instead of that on the date of registration. Facts- During the financial year 2010-11 assessee had booked property at a total consideration of Rs.2.60 crores. Developer issued allotment letter dated 19/05/2010. The assessee had made initial payment of Rs. 10.00 lacs at the time of allotment. Thereaft...