When Timing Matters: ITAT Rules in Favour of Homebuyer on Stamp Duty Value

ITAT Recognizes Booking Date for Valuation of Immovable Property for Income Tax The flat was purchased by an Assessee named Harsha Rajan at a price less than its stamp duty value; thus, the difference was taxed under Section 56(2). The ITAT held that the value of the booking date should be considered, not the registration…