Income Tax Section 50C: Sold property for ₹94 lakh despite ₹1.93 crore stamp value; ITAT Chennai grants tax relief
· livemint.com
ITAT Chennai ruled that the tax benefit could not be denied merely because the earlier agreement to sell was unregistered, as the consideration was fixed earlier and payments were made through RTGS.
A Chennai taxpayer who sold property for ₹94 lakh despite a stamp-duty value of ₹1.93 crore has won relief from a ₹99.06 lakh tax addition after the Incom...