Home Highlights March 2014 Year 2014 This

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1. 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)...

2. Revision u/s 263 - error noted by the CIT that sale of properties by the assessee during the year was not examined by the AO vis-à-vis its stamp duty value for the...

3. The order dealt with maintainability of petition, liability to pay stamp duty on NCLT order, applicability of res judicata principle, interpretation of fiscal laws,...

4. Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be...

5. Valuation of property - assessee clearly objected before the Assessing Officer against the adoption of stamp duty valuation - It was duty of the Assessing Officer to...

6. Immovable property purchased, stamp duty value higher than consideration paid. Assessee's request to refer matter to Valuation Officer ignored. Held: As property...

7. The assessee objected to the valuation report prepared by the district valuation officer and the stamp duty rate. The assessing officer referred the matter to the...

8. Addition u/s 50C - Capital Gains - For the purposes of third proviso to S. 50C(1) of I.T.Act; the valuation of the property by DVO has no relevance; and what is material...

9. Capital gain computation - value determined by the stamp duty authorities in terms of Section 50C(1) - When assessee objected the value adopted or assessed by the stamp...

10. The appeal challenges the liability to pay stamp duty and penalty on agreements executed prior to the sale deed for two properties. The court determined the real...

11. Refund of stamp duty - Stamp papers purchased for registration of immovable property but the same could not be executed - The denial of refund of the stamp duty...

12. Capital gains - treating information contained in ITS as related to transaction of sale of immovable property - Assessee had pointed out how the two transactions...

13. Tax deduction at source (TDS) u/s 194IA is applicable on the payment made for purchase of immovable property, not on the stamp duty valuation. The provision mandating...

14. LTCG - valuation of the property to the DVO - Valuation report given by the DVO cannot be ignored. Since the DVO himself valued the property which is less than the value...

15. Levy of stamp duty on schemes of amalgamation or restructuring - The High court found that orders of the court sanctioning amalgamation/restructuring, along with the...