Addition u/s 43CA - transfer of business assets / property - ...

Clarification on 5% Tolerance Limit for Asset Transfers in Finance Act 2018; No Prior 15% Limit u/s 43CA.

January 23, 2020

Case Laws Income Tax AT

Addition u/s 43CA - transfer of business assets / property - stamp value - A s a tolerance limit of 5% between the value adopted by the stamp valuation authority and the actual consideration received or accruing as a result of transfer of the asset (other than a capital asset), had been made available on the statute only vide the Finance Act, 2018 w.e.f A.Y. 01.04.2019, therefore, it would be absolutely incorrect to infer that prior to the aforesaid amendment a tolerance limit of 15% was already available and/or inbuilt in the said statutory provision.

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Addition u/s 43CA - transfer of business assets / property - ...

Clarification on 5% Tolerance Limit for Asset Transfers in Finance Act 2018; No Prior 15% Limit u/s 43CA.

January 23, 2020

Case Laws Income Tax AT

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