Accrual of income - sale of additional FSI to the purchaser - ...

Court Decision Pending on Rs. 500/Sq Ft from FSI Sale; No Income Addition for Assessee Yet.

March 21, 2018

Case Laws Income Tax AT

Accrual of income - sale of additional FSI to the purchaser - The right to the said amount of ₹ 500 per sq ft has not accrued to the assessee and the owner of such amount would be decided by Courts and till such time as the issue is resolved the said amount does not accrue to the assessee - No additions - AT

View Source

← Previous Next →

Accrual of income - sale of additional FSI to the purchaser - ...

Court Decision Pending on Rs. 500/Sq Ft from FSI Sale; No Income Addition for Assessee Yet.

March 21, 2018

Case Laws Income Tax AT

You may also like:

Indexed cost of acquisition disallowed based on DVO report u/s 142A. Assessee's valuer determined cost at Rs. 89,800 per sq. yard, DVO at Rs. 72,000 per sq. meter....

Reopening of assessment based on purported guideline value of Rs. 16,000/- per sq. ft. for property was erroneous. Records showed guideline value was Rs. 12,000/- per sq....

Disallowance of deduction u/s 80IB(10) and the levy of penalty u/s 271(1)(c). The Assessing Officer disallowed the deduction claim on two grounds: most residential units...

ITAT dismissed Revenue's appeal on multiple grounds. AO's adoption of Rs. 3,000/sq.ft. as commercial space sale price was rejected due to lack of concrete evidence...

Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

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

LTCG - registered sale deed was executed by the legal heirs of the deceased - CIT(A) has not verified this fact but has merely gone by the presumption that the assessee...

In the case, ITAT decided on two main issues: 1. Addition on account of Gold and Silver Jewellery u/s 69A: Assessee disclosed Rs. 70,00,000 as unexplained investment...

Assessee, a partner in Daurau Farms LLP engaged in sale of farm fresh milk, paid Rs. 30 lakhs in three installments of Rs. 10 lakhs each to Mr. Deepak for purchasing...

The assessing officer (AO) made additions to the assessee's income based on alleged bogus purchases and unexplained investments. The key points are: Addition of Rs....

The assessee, a sole proprietor running a petrol pump allotted by BPCL, deposited unexplained cash in the current bank account. The AO invoked Section 69A and made an...

Petitioner sought regular bail in case involving alleged wrongful Input Tax Credit (ITC) availed using fictitious invoices from non-existent/suspicious firms. As per...

Dishonor of Cheque - he trial court is empowered to direct payment of compensation, double that amount. Rs. 7,02,500/- is the fine imposed in the case on hand and the...

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 assessee filed a revised return of income to correct the addition based on professional receipts in the original return. The hospital made a total payment of Rs....

Quick Updates: