Computation of LTCG - fair market value as on 1.4.1981 - When ...

Use Reasonable Estimate for FMV of Land on April 1, 1981, When No Concrete Evidence Exists for LTCG Calculation.

March 8, 2014

Case Laws Income Tax AT

Computation of LTCG - fair market value as on 1.4.1981 - When there is no material available on record, which could clearly establish the FMV of the land, in that locality, one has to go by a reasonable estimate - AT

View Source

← Previous Next →

Computation of LTCG - fair market value as on 1.4.1981 - When ...

Use Reasonable Estimate for FMV of Land on April 1, 1981, When No Concrete Evidence Exists for LTCG Calculation.

March 8, 2014

Case Laws Income Tax AT

You may also like:

Capital gain - Valuation - FMV determination - Conversion of agriculture land - reference to DVO - CIT(A) has correctly observed that the land sold in current year is...

LTCG - cost of acquisition of shares - Since the assessee has not submitted Balance Sheet as on 1st April 1981 of the company M/s. Somani & Co. Pvt. Ltd., in our...

Computation of capital gains – nature of land at the time of valuation i.e. as on 1-4-2008 - conversion of agricultural land into non-agricultural land in the year 2005...

Capital gain on sale of land - FMV as on 1/4/1981 - AO has not given any evidence that how the FMV has been determined by him - AO may decide the whole issue either by...

Capital gains on sale of Land- Acquisition of Land & Building in 1948- -In terms of Section 55(2)(b)(1) the assessee had an option to adopt fair market value as on 1st...

Assessee's unaccounted sales were estimated based on notebooks, diaries, and WhatsApp conversations. Only real income can be taxed. While unaccounted sales existed,...

Computation of capital gains - The market value of the property may be more or may be less - when a registered valuer has worked out the market value of the property as...

Adjustment u/s 143(1) disallowing revenue expenditure claim u/s 11(1) was made without providing reasonable opportunity to assessee, violating second Proviso of Section...

GST Revenue collection in the month of April 2018 exceeds ₹ 1 Lakh Crore

LTCG - Determination of Fair Market Value (FMV) - The Assessing Officer and the Commissioner of Income Tax (Appeals) accepted the fair market value of the property as on...

The crux pertains to levying penalty u/s 271(1)(c) for alleged furnishing of inaccurate particulars or concealment of income regarding capital gains computation on sale...

Due date of filing of Tran-1 return - extension till 10th May, 2018 - given that only 25th, 26th and 27th April, 2018 are the working days available before 30th April,...

Disallowance - excess consumption of Tendu leaves - AO's addition 1/3rd, was found to be reasonable - HC

Proof of smuggling of goods - DW.1 (revenue officer) stated in evidence that it was suspected that articles were smuggled and that it was believed that the articles were...

Valuation of property - determination of FMV as on 1.4.1981 - The authorities committed a serious error in relying on an inadmissible evidence and in not taking into...

Quick Updates: