Sale consideration stated in Sale Deed pursuant to the Public Auction is to be accepted as Fair Market Value for purposes of Stamp Duty: ITAT [Read Order]

By Sunayana Dhal - On August 30, 2023 2:10 pm - 2 mins read
Sale- consideration - Sale- Deed -Public- Auction- Fair-Market- Value - purposes - Stamp -Duty-ITAT-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the sale consideration stated in the sale deed pursuant to the public auction is to be accepted as the fair market value for the purposes of stamp duty. The assessee is a firm with three partners. During the year under consideration, the assessee…

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