Act
keeping in view provisions of Section 50C of the Act with respect to the
property sold instead of stamp duty value ... Act under the deeming provisions of Section 50C of the Act as the sale
consideration was lower than stamp duty value of the property adopted
question as to whether these amendments by the Finance Act, 2018 and Finance Act, 2020
could be said to be retrospective in effect and could ... note of certain important legislative amendments
by the Finance Act 2018 and Finance 2020. By Finance Act, 2018 , the third proviso to
Section
Section 50C of the I.T. Act, which was inserted by the Finance Act, 2002 with effect from 1.4.2003 i.e. assessment year ... this section referred to as the "stamp valuation authority") for the purpose of payment of stamp duty in respect of such transfer
this section referred to as the 'stamp valuation authority') for the purpose of payment of stamp duty in respect of such transfer ... this section referred to as the "stamp valuation authority") for the purpose of payment of stamp duty in respect of such transfer
Registering Authority for the purposes of stamp valuation as deemed u/s 50C
of the Act for the following reasons:
5.1 Firstly ... consideration vis-a-vis
value adopted for stamp duty - Sec. 50C is deeming fiction by which stamp
duty value of the asset sold
assessment to
be erroneous within the parameters of Sec. 263 of the Act.
8) For that on the facts and in the circumstances ... making the disallowance u/s 14A of the Act.
9) For that on the facts and in the circumstances of the case, the appellant having
dated 10.06.2019 u/s 250 of the Income Tax Act, 1961 (hereinafter 'the Act')
for Assessment Year (hereinafter ... under Section 143(3)
of the Income Tax Act, 1961 (hereinafter referred to as 'the Act')."
3. Brief facts of the case
Registrar, Shameerpet, U/s. 40 & 42 of
the Stamp Duty & Registration Act, 1899, on the Instrument of Registered
Sale Deed No: 21233/2006 ... REGISTRAR OFFICE REGISTRAR / COLLECTOR
SHAMIRPET (Under Indian Stamp Act)
19-12-06
From the above, it is very clear that the registration value
consideration' as
mentioned in s. 50C . The value adopted for stamp duty is to be
considered as full value of consideration for the purpose ... value adopted for stamp duty-Legislature
in its wisdom has referred to s. 48 in s. 50C for adopting the
stamp duty value as fair
this
section referred to as the "stamp valuation authority) for the purpose of payment of
stamp duty in respect of such transfer, the value ... State Government (i.e. "stamp valuation authority") for the
purpose of payment of stamp duty in respect of such transfer, the value
