Addition as short term capital gain by invoking the provisions ...
Short-term capital gain adjusted u/s 50C due to sale value discrepancy; DVO valuation replaces Stamp Authority's.
March 4, 2022
Case Laws Income Tax AT
Addition as short term capital gain by invoking the provisions of section 50C - difference between the declared sale consideration and the market value is within the range of 5% - the benefit provided under the third proviso to section 50C(1) of the Act, should be extended to the assessee, as, ultimately the value determined by the Stamp Valuation Authority has been substituted by DVO's valuation in terms of sub-section (3) of section 50C of the Act. - AT
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