Addition under the head “Capital Gains” - Fair Market Value of ...

Case Laws Income Tax

July 9, 2021

Addition under the head “Capital Gains” - Fair Market Value of the salable area - The method adopted by the Assessing Officer to compute Fair Market Value of salable constructed are is flawed - invoking the provisions of Sec.45(5A) of the Act which is inserted by the Finance Act, 2017 w.e.f. A.Y. 2018-19 is bad-in-law in as much as that the Assessing Officer should have applied the provisions of Sec.45(5A) in its entirety not in part i.e., only by adopting the value for stamp duty purpose of the saleable area, (2) not applying other limb of provisions, which determines the tax of chargeability of “Capital Gains” to tax. It is suffice to say that the action of the Assessing Officer is bad-in-law without delving into issue whether the said provisions have retrospective effect or not - AT

View Source

← Previous Next →

Addition under the head “Capital Gains” - Fair Market Value of ...

Case Laws Income Tax

July 9, 2021

You may also like:

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...

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...

Computation of the long term capital gain by applying the provisions of sec. 50C - When this DVO’s report is proved as wrong, then it is open to the authorities to...

Addition u/s 56(2)(viia)(ii) - determination of fair market value of shares - Method of valuation - Addition towards difference between FMV and actual amount paid for...

Deduction u/s 80IA - Where a basket of "market values" are available for the relevant period and relevant geographical area where the eligible unit is situated, the...

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...

Capital gain - even where cost of acquisition of capital asset cannot be ascertained but the asset has market value, capital gain will be attracted by taking the cost of...

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....

Capital gain computation - Without going into the merits of the basis of valuation so adopted by the registered valuer and subsequently by the department’s valuation...

TP Adjustment - Fair market value of share of ECL representing the ALP - the DCF Method could not be adopted in the facts and circumstances of the present case as the...

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...

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...

Capital gain - Additions made u/s 50C - by no stretch of imagination, without making any sport physical verification, two piece of land can be compared to work out the...

FMV determination - sale of office with common area - AO/DVO is directed to determine the fair market value by considering these common are as a positives factor while...

AO rejected registered valuer's report for cost of acquisition and relied on section 55A. ITAT held that if AO was unsatisfied with registered valuer's report, he should...

Quick Updates: