CIT v. Chandni Buchar 2010(P&H)
A.O. added in TI of assessee,the difference between purchase price DISCLOSED in SALE DEED&purchase price adopted for paying STAMP DUTY.High Court decided that 50C is a deeming provision for bringing the difference to capital gain tax.Valuation for STAMP duty calculation wud not ipso facto substitute of actual sale consideratn.Here,assessee proved the consideration of sale deed with original bank statement.Hence this addition is deleted
A.O. added in TI of assessee,the difference between purchase price DISCLOSED in SALE DEED&purchase price adopted for paying STAMP DUTY.High Court decided that 50C is a deeming provision for bringing the difference to capital gain tax.Valuation for STAMP duty calculation wud not ipso facto substitute of actual sale consideratn.Here,assessee proved the consideration of sale deed with original bank statement.Hence this addition is deleted
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