Home Highlights July 2014 Year 2014 This

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1. AO rejected registered valuer's report for cost of acquisition and relied on section 55A. ITAT held that if AO was unsatisfied with registered valuer's report, he should...

2. Addition applying the provisions of section 50C - Once the assessee has raised the objection against the adoption of deemed full value consideration in terms of section...

3. Reopening of assessment u/s 147 for assessing Long Term Capital Gain on sale of land in Financial Year 2005-06. Assessing Officer (AO) adopted full value consideration...

4. Shares granted under Employees Stock Purchase Scheme (ESPS) had a lock-in period and could not be traded in the open market. The Fair Market Value (FMV) could not exceed...

5. Income from house property - ALV determination - AO has though adopted the rate of rent as it was agreed upon between the parties in respect of property in the vicinity...

6. Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

7. Reference to DVO - Determination of cost of acquisition - if the value declared by an assessee on the strength of registered valuer’s report is more than the fair market...

8. Valuation - the fair market value of the property is dependent on several factors which influence valuation and there is no scientific or straight jacket method to value...

9. Amendment of section 281B. - Attachment of property - Assessing Officer shall revoke attachment of property made under sub-section (1) in a case where the assessee...

10. Addition u/s.56(2)(vii)(b)(ii) - difference between the value fixed by the stamp duty authorities and the sale consideration - Government of Tamil Nadu has reduced the...

11. Addition u/s 56(2)(viia) - purchase of shares at price more than its fair market value - The tribunal extensively reviewed the submissions and evidence presented,...

12. 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...

13. Annual value determination - Estimating the value of the house property - assessee should be granted vacancy allowance.

14. Manner of determination of fair market value of the inventory for the purpose of 28(via) of the Income-tax Act, 1961 - Draft notification

15. Addition u/s 56(2)(viia)(ii) - determination of fair market value of shares - Method of valuation - Addition towards difference between FMV and actual amount paid for...