Stamp Duty Value on Date of Allotment to be taken instead of Registration u/s Section 56(2)(vii)(b) of IT Act: ITAT [Read Order]

ITAT Mumbai held that, date of allotment is to be considered for Section 56(2)(vii)(b) instead of date of registration
Stamp Duty Value - Stamp Duty - Registration - ITAT - itat mumbai - Date of Allotment - IT act - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that stamp duty value on the date of allotment is to be taken for the purposes of Section 56(2)(vii)(b) of the Income Tax Act, instead of date of registration. Assessee had a return of income declaring total income at ₹ 5,93,520/- filed on 27.08.2015. The case…

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