Difference b/w Sale Consideration and Stamp Duty Valuation is Less than 10%: ITAT deletes Addition u/s 50C [Read Order]

Sale - Consideration - and - Stamp - Duty - Valuation - ITAT - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition under section 50C of the Income Tax Act,1961 as the difference between the Sale Consideration and Stamp Duty Valuation is Less than 10%. The revenue challenged the order passed by the Commissioner of Income Tax (Appeals) which deletes the disallowance of interest…

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