Cant tax flat agreement & stamp duty value difference: ITAT

Dated on: Thursday 14th December 2023

The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) has ruled in favor of a taxpayer who, along with her husband, jointly purchased a flat. The tribunal stated that the sum of Rs 24.3 lakh, representing her share of the difference between the agreement value and the stamp duty value at the time of registration, cannot be taxed in her hands.

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