Addition under Section 56(2) (x) - difference in sale ...

Case Laws Income Tax

July 23, 2022

Addition under Section 56(2) (x) - difference in sale consideration and stamp duty value of 7 properties sold - application of tolerance band limit - - introduction of tolerance band is for removing the hardship in the section. once a statutory amendment is being made to remove an undue hardship to the assessee or to remove an apparent incongruity, such an amendment has to be treated as effective from the date on which the law, containing such an undue hardship or incongruity, was introduced - the benefit of enhanced tolerance band limit of 10% allowed - AT

View Source

← Previous Next →

Addition under Section 56(2) (x) - difference in sale ...

Case Laws Income Tax

July 23, 2022

You may also like:

The Appellate Tribunal held that for determining the holding period of a property or calculating long-term capital gains, the date of allotment of the property is...

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

Addition u/s 56(2)(vii)(b) - difference between the sale consideration declared by the assessee and the stamp duty value - since the difference between the sale...

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)...

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...

Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...

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...

Revision u/s 263 - provision of s.56(2)(vii)(b)(ii) was applicable - market value of the subject property vs stamp value - the stated sale consideration is not the...

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...

Addition u/s.56(2)(vii)(b)(ii) - difference between the value fixed by the stamp duty authorities and the sale consideration - Government of Tamil Nadu has reduced the...

Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount...

Income from other sources u/s. 56(2)(x) - difference of stamp duty value and the actual consideration - tolerance band limit from 5% to 10% under section 56(2)(x) to be...

Addition u/s 43CA - difference in the value of sale consideration of the of property as shown by the assessee and value adopted by the Sub-Registrar for stamp duty...

Addition u/s. 56(2)(vii) - Applicability for properties which are under construction? - AO mechanically applied provisions of section 56(2) to bring he difference...

Addition u/s 56(2)(vii)(b) - Purchase of property below circle rate / stamp value - since the assessee/co-owners has made part payment (part consideration of Rs. 3...

Quick Updates: