![Where assessee had offered actual amount received on sale of property for taxation, revenue authorities were not justified in passing penalty order under section 271(1)(c) by adopting higher sale consideration under section 50C on basis of stamp duty valuation of said property. CIT vs Madan Teatres Ltd. [2014] 42 taxmann.com 26 (Calcutta) Merely applicability of sec 50C will not prove escapement of Income. ITO vs Shri Haresh Chand Agarwal, HUF, Date of Order: ITA No.282/Agra/2013, Date of Order: , ITAT-Agra.](https://www.itrtoday.com/wp-content/uploads/2017/07/s2711cviz-a-vizSection50C.jpg)
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