Home Highlights March 2014 Year 2014 This

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1. Valuation of property - Herald House, Bahadurshah Zafar Marg, New Delhi - FMV determination - We hold that firstly, the circle rate which has been proposed by the...

2. Valuation of the property - determining the fair market value (FMV) - Property which is otherwise residential as per the record cannot be treated as a commercial...

3. Income from house property - ALV determination - these are the guiding factors for determining the annual rental value of the property and any deviation from the same is...

4. Section 56(2)(viib) deals with the consideration received by a company for issue of shares at a premium. The assessee company issued equity shares at a premium, which...

5. Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

6. Reopening of assessment - capital gain on sale of property - the revised valuation as so determined in respect of both the properties works out to less than 10% of the...

7. 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...

8. Indexed cost of acquisition disallowed based on DVO report u/s 142A. Assessee's valuer determined cost at Rs. 89,800 per sq. yard, DVO at Rs. 72,000 per sq. meter....

9. Income from house property - ALV u/s 23(1)(a) - In determining the reasonable rent, several factors have to be taken into consideration, such as, location of the...

10. Addition u/s 56(2)(vii)(b)(ii) - difference in the value that was adopted by the stamp valuation authority for payment of stamp duty as against the value for which the...

11. Assessment of LTCG – determination of sales consideration – sale consideration cannot be taken on the basis of cost of construction to the developer - to be determined...

12. This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

13. The assessee purchased agricultural land whose stamp duty valuation was lower than the actual purchase consideration. The authorities sought to invoke section 56(2)(x)...

14. Assessee utilized long-term capital gain from sale of immovable property for purchase of new residential property within permissible time period. Purchase consideration...

15. Addition under the head ‘income from house property - property not forming part of block of assets - property was purchased for the purpose of resale and lying vacant...