Sale Consideration as determined by Stamp Duty Authorities has to be adopted for purposes of Computation of Capital Gain: ITAT [Read Order]

The ITAT bench observed as per section 50 C of Income Tax Act its always the Stamp Valuation to be considered and there is no warrant to replace such figure in view of such binding legal fiction
By Amal Michael - On February 22, 2024 6:02 pm - 3 mins read
ITAT Jaipur - ITAT - Income Tax - ITAT Ruling on Capital Gains - Stamp Duty Authority Valuation - Taxscan

A two member bench of Jaipur Income Tax Appellate Tribunal ( ITAT ) has held that the sale consideration as determined/adopted by the Stamp Duty Authorities, has to be adopted for the purposes of computation of capital gain.Thus, the intention of the legislature is quite clear that after this amendment, it is always the Stamp…

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