Scope of reference u/s.55A vis-a-vis section 50C of I.T. Act. - ...

DVO Reference Allowed for Capital Gains Valuation u/s 50C, Not Section 55A, in Property Value Disputes.

July 6, 2012

Case Laws Income Tax AT

Scope of reference u/s.55A vis-a-vis section 50C of I.T. Act. - for the purposes of the computation of capital gain u/s. 48, a reference can be made to DVO only in a situation as prescribed u/s. 50C of the Act. and not otherwise. - AT

View Source

← Previous Next →

Scope of reference u/s.55A vis-a-vis section 50C of I.T. Act. - ...

DVO Reference Allowed for Capital Gains Valuation u/s 50C, Not Section 55A, in Property Value Disputes.

July 6, 2012

Case Laws Income Tax AT

You may also like:

Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

LTCG - valuation of the property to the DVO - Valuation report given by the DVO cannot be ignored. Since the DVO himself valued the property which is less than the value...

u/s 56(2)(vii)(b), the addition was made based on the difference between the stated value and the District Valuation Officer's (DVO) valuation. It was held that an...

Computation of capital gain - If after such reference, the value fixed by the stamp valuation authorities is still to adopted, ignoring the lower value fixed by the DVO...

Capital gain computation - valuation of property - Valuation report of DVO, after all, cannot be treated as the last word on valuation, and there has to be a grievance...

Determining the short term capital gains - adopting different value from market value of the property - sale of the property lower than the value adopted by the Stamp...

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...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

Capital gain computation - Since valid reference could not have been made, the value so determined by the DVO as on 01-04-1981, ergo, becomes meaningless for the instant...

Computation of long term capital gains - reference to DVO - FMV declared by assessee as on 01.04.1981 - no reference can be made u/s 55A in order to value the cost of...

Capital gain - Valuation of the property sold by the assessee - reference to DVO - ITAT noted that the reference made by the AO to the VO was not in accordance with the...

Capital gain on property inherited - the property inherited by the respective assessees is their individual property and, therefore, the capital gains, if any, is...

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....

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...

Quick Updates: