Section 45 of Income tax Act, 1961—Capital gain— In the instant case, ground for appeal is with regard to determination of full sale consideration for a sale of capital asset on the basis of which capital gain required to be computed in each hand of the assessees.

In the present case, stamp duty valuation authority has not adopted the value. It is the party who agreed to pay stamp duty at an enhanced value of Rs. 6,47,14,285/-. The payments of higher stamp duty at the end of the vendee was not effecting any rights of the assessee. They were not under any financial obligation. The stamp duty valuation authority would not object payment of higher stamp duty at the end of the vendees. Had they disclosed a lower value, probably they would have adopted a higher value according to the rates notified by them.

Held that— The stamp duty payment at the end of the vendee is roughly 6% to 8% of the value so mutually agreed by them. But that mutual agreement would not authorise the AO to deem it full sale consideration. The full sale consideration is to be deemed at the value which is assessable by the stamp duty valuation authorities, and if the rates notified by the stamp duty valuation authority are taken into consideration, then such value would come far less than the value disclosed by all the appellants, while computing the capital gain.[SMT. MAHINABANU NAINABANU SIPAI (JADEJA) , SHRI ANVARMIYA ALAMIYA SIPAI (JADEJA) , SHRI HUSENMIYA NANUMIYAN SIPAI (JADEJA) , SHRI BHIKHUMEEYA ALAMMIYA SIPAI VERSUS DCIT, MEHSANA, CIRCLE MEHSANA.] [2019] 19 ITCD Online (3) [ ITAT AHMEDABAD]