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TMI Blog2019 (12) TMI 307X X X X Extracts X X X X X X X X Extracts X X X X ..... the full value of consideration of shop sold with reference to value for stamp duty purpose as on 05.02.2011 as against the value for stamp duty purpose as on 07.12.2010 as claimed by the appellant. 2. In the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in upholding the action of A.O in considering Cost of Acquisition of shop sold at Rs. NIL as against the market value of shop acquired by surrender of tenancy right in the year 2004. 3. The appellant craves leave to add, alter, delete or modify all or any of the above grounds of appeal". 2. Rival contentions have been heard and record perused. The facts in brief are that the assessee is an individual having income from house property, interest income, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d consideration. Also Rs. 5,00,000/- and Rs. 2,07,000 was received as advance vide cheque dated 07th December 2010 having cheque number 000604 and 26th December 2010 having cheque number 000605 respectively, as agreed between the parties in agreement dated 07th December, 2010. The final agreement between the parties was registered with authorities on 05th December 2011. 5. The following documentary evidence was filed before the lower authorities: "1. The agreement between buyer and seller identifying property, parties to agreement and amount of sale consideration dated 07th December 2010. 2. Sale Deed Registered with authorities dated 05th February 2011. 3. Relevant page of stamp duty value of year 2010 arriving at Rs. 72,03,771/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sec. 43CA read as under: "Where the date of agreement fixing the value of consideration for transfer of the asset and the date of registration of such transfer of asset are not the same, the value referred to in sub section (1) may be taken as the value assessable by any authority of a state government for the purpose of payment of stamp duty in respect of such transfer on the date of agreement for transfer of the asset". 6.2 Thus, the provision of new sec. 43CA under the Act introducing the provisions for taxability of transfer of immovable property (land or building or both) held in the nature of stock in trade, is also applicable on the similar lines which are applicable for immovable property held in the nature of "capital asset" un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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