Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Capital gains on sale of land - Addition u/s 50C - the ...


Court Deletes Addition u/s 50C for Land Sale; Stamp Duty Valuation Difference Less Than 2.

November 23, 2015

Case Laws     Income Tax     AT

Capital gains on sale of land - Addition u/s 50C - the difference between the valuation for the stamp duty and the actual consideration received by the assessee is less than 2% - addition sustained by CIT(A) should be deleted. - AT

View Source

 


 

You may also like:

  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. The provisions of Section 56(2)(vii)(b) read with Section 50C cannot be invoked as the difference between the Fair Market Value (FMV) determined by the District...

  3. Addition u/s 56(2)(x) arises when consideration paid for immovable property is less than stamp duty value by more than Rs. 50,000 or 10% of consideration. If agreement...

  4. Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

  5. Addition of income u/s 56(2)(x)(b)(B) - under valuation of stamp duty value on purchase consideration of the property u/s 50C - The assessee asserts that only a partial...

  6. Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount...

  7. Income from other sources u/s. 56(2)(x) - difference of stamp duty value and the actual consideration - tolerance band limit from 5% to 10% under section 56(2)(x) to be...

  8. Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...

  9. Addition u/s 69A OR 50C - difference between the sale consideration disclosed by the assessee and the value adopted by the Stamp Valuation Authority - the authorities...

  10. Applicability of Section 56(2)(x) of the Income Tax Act to the transfer or surrender of tenancy rights. It states that Section 56(2)(x) is a deeming provision akin to...

  11. HC quashed orders rejecting assessee's request for revision u/s 264. Differential value between sale deed and stamp duty valuation exceeded Rs. 50,000, invoking Section...

  12. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  13. Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased...

  14. 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...

  15. Capital gain computation - stamp duty valuation adopted by authorities - Since the assessee is disputing the value adopted by government authorities for levy of stamp...

 

Quick Updates:Latest Updates