This website has already published an article on the issue of new provision u/s 56(2)(vii)(b) that has become effective from 01/04/2014 ( assessment year 2014-15) . This provision may be responsible for CASS selection of many cases of house/flats registration during FY 2013-14 . In all those cases, A.O must be going to apply the provision stating that the stamp duty value .But , in my considered opinion, the law u/s 56(2)(vii) applicable from the assessment year 2014-15 is not applicable in most of the cases of house/flats registering in the FY 2013-14 , if certain conditions are satisfied ( which I believe is satisfied in most of cases !). Here are the reasons for such an opinion :
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