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Section 56(2)(vii)4

SMT. MUMTAJBANU A. JIVANI,AMRELI vs. THE ITO, WARD-3 (1) (4), AMRELI

The appeal of the assessee is allowed

ITA 284/RJT/2019[2014-15]Status: DisposedITAT Rajkot09 Aug 2023AY 2014-15

Bench: Ms. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

For Appellant: Shri Kalpesh Doshi, A.RFor Respondent: Shri B.D. Gupta, Sr. D.R

Section 250Section 269USection 50CSection 56(2)(vii)

section required substitution of the actual sale consideration received on sale of land with its stamp duty value where found higher for the purposes of computing capital gain earned on sale of land, any difference in the actual sale consideration and the stamp duty valuation to the extent of 10% was to be ignored for the purposes of treating