Tolerance margin of 10% u/s 43CA is applicable retrospectively

Sai Bhargavanath Infra Vs ACIT (ITAT Pune) ITAT Pune held that with regard to first proviso to section 43CA of the Income tax Act effect of the tolerance margin of 10% is to be given retrospective effect i.e. made applicable even for the prior assessment years. Facts- In the assessment order, the A.O made an addition of Rs. 19,58,875/- u/s 43CA of the Act being the difference between sale value of the flats sold and the stamp duty value of the same. It was contended by the assessee that stamp value was at uniform rate without taking into consideration the peculiar features of a particular prop...