Addition u/s 50C -sale at lower price - substitution of stamp ...

Case Laws Income Tax

July 12, 2019

Addition u/s 50C -sale at lower price - substitution of stamp duty value as deemed sale consideration - the assessee has demonstrated the encroachment by illegal occupiers with reference to electricity bills in the name of the illegal occupiers and substantial payment to various such occupiers by the purchaser in the subsequent years which was disputed by the Revenue - will be reduced for computation of capital gains

View Source

← Previous Next →

Addition u/s 50C -sale at lower price - substitution of stamp ...

Case Laws Income Tax

July 12, 2019

You may also like:

The case pertains to the applicability of Section 43CA, which deals with the adoption of stamp duty value as the full value of consideration for computing profits and...

In the case of 2024 (5) TMI 1097 before the ITAT Kolkata, the issue revolved around the addition made u/s 50C of the Income Tax Act. The assessee had contended that the...

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...

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...

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...

The case pertains to the applicability of Section 50C of the Income Tax Act in determining the full value of consideration for computing capital gains in the hands of...

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)...

Applicability of provisions of section 50C - Sale of undetermined beneficial rights in the land - There cannot be any substitution of stamp duty value as the full value...

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...

Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

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...

Levy of penalty u/s 271(1)(c) - failure to take stamp duty value of property u/s 50C being land and building for sale - From a clear distinction between sale...

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...

Capital gains – In view of the provisions of sub-section (2) of section 50C, if fair market value as assessed by the DVO is lower than the value adopted by Stamp Duty...

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...

Quick Updates: