Capital gains - there cannot be two estimations of the fair ...

Court Rules: No Dual Fair Market Value Estimates for Land as of April 1, 1981, by Different Co-Owners.

May 24, 2017

Case Laws Income Tax HC

Capital gains - there cannot be two estimations of the fair market value as on 1st April 1981 in respect of the very land in question, but in case of different assessee/co-owner - HC

View Source

← Previous Next →

Capital gains - there cannot be two estimations of the fair ...

Court Rules: No Dual Fair Market Value Estimates for Land as of April 1, 1981, by Different Co-Owners.

May 24, 2017

Case Laws Income Tax HC

You may also like:

Determination of fair market value of leasehold land as on 01.04.1981 for computing long-term capital gains. The Tribunal, considering the valuation report, valued the...

Capital gain computation - Fair Market Value as on 01.04.1981 u/s 55(2)(b)(i) - the fair market value of the impugned immovable property should be adopted at Rs....

LTCG - cost of acquisition of shares - Since the assessee has not submitted Balance Sheet as on 1st April 1981 of the company M/s. Somani & Co. Pvt. Ltd., in our...

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...

Income from other sources - Addition u/s.56(2)(viib) - The revenue authorities cannot force the assessee to adopt particular method for valuing the fair market value of...

Capital gains on sale of Land- Acquisition of Land & Building in 1948- -In terms of Section 55(2)(b)(1) the assessee had an option to adopt fair market value as on 1st...

Computation of capital gains - The market value of the property may be more or may be less - when a registered valuer has worked out the market value of the property as...

Long term capital gain computation - Fair market value as on 1.4.81 - Evidence / Poof of cost of improvement incurred after 1.4.1981 - While it is the claim of the...

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...

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...

The crux pertains to levying penalty u/s 271(1)(c) for alleged furnishing of inaccurate particulars or concealment of income regarding capital gains computation on sale...

Capital gain computation - As such the assessee has claimed higher value than the fair market value as per the AO. Thus in our considered view, the AO has no power to...

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...

The land which was within the municipal limits, could not have been treated to be ''agricultural land' on the basis of revenue record prepared under U.P. Z.A. & L.R. Act....

Method of communication of notice - The High Court examined the provisions of Section 282(1) of the Income Tax Act, 1961 and Rule 127(1) of the Income Tax Rules, 1962...

Quick Updates: