MEENA DEVI,BALLIA vs. INCOME TAX OFFICER, WARD - 2(4), BALLIA

In the result, appeal of the assessee is allowed

Bench: The Ld. Cit (A) It Was Challenged That Taking The Sale Consideration As Per The Stamp Valuation Authority U/S.50C Is Beyond The Scope Of Section 143(1)(A) & There Is No Such Provision Mentioned In Provision (I) To (Vi) To Make Such An Adjustment. Further, It Was Contended That The Assessee Had Disputed The Valuation U/S.50C Before The Ld. Ao In The Petition For Rectification U/S. 154, However, Same Has Not Been Accepted. However, The Ld. Cit (A) Has Confirmed The Addition On The Ground That The Provision Of Section 50C Is Clear That The Value Has To Be Taken As Per The Stamp Valuation Authority & Therefore, The Ld. Ao Has Rightly Made The Adjustment.

capital gain in the return of income filed. The return filed on 31/08/2019 was 2 Meena Devi processed u/s. 143(1), wherein adjustment was made by taking the value of sale consideration as per Section 50C