Failure to comply with Valuation as per Stamp Duty u/s 50C will not render Assessment ‘Erroneous’ If Sale was under SARFEASI Act: ITAT [Read Order]

Stamp Duty - Assessment - SARFEASI Act - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi bench comprising N.K. Billaiya, Accountant Member, and Shri Yogesh Kumar, Judicial Memberhave observed thatan assessment order cannot be held as “erroneous” for failure to comply with the provisions of section 50C of the Income Tax Act, 1961 if the sale of property was made under the SARFEASI Act,…

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