Undisclosed investment - purchase of property at below circle ...

Case Laws Income Tax

August 28, 2015

Undisclosed investment - purchase of property at below circle rate - property has been purchased by the assessee in the financial year 2007-08, the mandate of section 56(2)(vii) cannot apply retrospectively. - AT

View Source

← Previous Next →

Undisclosed investment - purchase of property at below circle ...

Case Laws Income Tax

August 28, 2015

You may also like:

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...

Undisclosed investment u/s.69 - Since, the partnership deed is subsequent to the date of purchase of land, the partnership firm by no means could have made investment...

Reopening of assessment - allegation of undisclosed source of purchase of property - If the Assessing Officer has to say that there are two properties purchased, either...

Addition u/s.69 or 68 - assessee has paid on-money towards purchase of property to the seller - The assessee is only owner of 1/3rd share in the property purchased. -...

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

The case involves bogus purchases u/s 69C, with the assessee dealing in bullion. The Gross Profit (GP) rate estimation is crucial. The assessee argued that the GP rate...

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...

Prohibition of Benami Transactions - Provisional attachment order was confirmed - Who is the beneficial owner of property? - The Tribunal held that while the properties...

Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from...

Bogus purchases - department had neither disputed the assessee's sales nor shown any discrepancy between the purchases shown and the sales declared - the Tribunal was...

Bogus purchases - profit estimation on alleged party @ 12.50% - no material to substantiate the view taken by the AO - comparing the GP rate on other purchases and...

The ITAT Raipur considered the addition u/s 69 or 56(2)(vii)(b) concerning the variance between guideline rates and actual purchase prices of immovable property. The...

Tribunal and CIT(A) concurred that Assessing Officer (AO) did not record any finding of undisclosed investment discovered during Excise Department's search, merely...

Appellant booked artificial short-term capital loss by purchasing shares from group entities at exorbitant rates and selling same shares to other group entities at lower...

Estimation of income - bogus purchases - The Tribunal addressed various issues, including the validity of the reopening of assessment, the genuineness of purchases,...

Quick Updates: