Sec 50C & Sec 69

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CA Shailesh +91 9393926464 (Querist)
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28 May 2008 Can the difference between the purchase value of the house property and the value adopted by Stamp Value Authority be treated as Unexplained Investments u/s 69?

Please guide me asap.

PS: Kindly Quote the relevant Case Law/ Circular

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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28 May 2008 never seen this.

SANDEEP AGGARWAL

SANDEEP AGGARWAL (Expert)
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28 May 2008 At the time of registry of property you have to give the details of payment made for sale consideration. That is the actual sale consideration for IT Purpose. Sale take place at the time of transfer of possession for sale consideration. Suppose subsequently at the time of registry (Which may be even subsequent to sale of property)value for registry purpose is increased then also it is not an unexplaind investment and Dept cann't invove sec 69.

Regards,
Sandeep Aggarwal

Chirag B Shah

Chirag B Shah (Expert)
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30 May 2008 No, But at the time of selling the Property the Assessing Officer can consider the Sale Consideration as Specified by Stamp Value Authority. However there is no provision to treat the difference betweeen purchase price and S.V.A as an unexplained investment. But for Sale Consideration it is clearly mentiioned in Sec 50C

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