Additions u/s 43CA - Consideration for immovable property less ...

Section 43CA Additions Contested: Bona Fide Transactions from 2006-07 Exempt from Prospective Law Application, Additions Deleted.

September 27, 2023

Case Laws Income Tax AT

Additions u/s 43CA - Consideration for immovable property less than the stamp duty value - Large number of allottees shows the bona fide of the modus operandi of the assessee. When tested on the touchstone of preponderance of probabilities, the bona fide transaction and contractual commitment with Hemlata way back in FY 2006-07 cannot be doubted merely to invoke and apply a prospective law of S. 43CA. - Additions deleted - AT

View Source

← Previous Next →

Additions u/s 43CA - Consideration for immovable property less ...

Section 43CA Additions Contested: Bona Fide Transactions from 2006-07 Exempt from Prospective Law Application, Additions Deleted.

September 27, 2023

Case Laws Income Tax AT

You may also like:

HC held Section 115JB inapplicable to electricity company for AY 2006-07 as accounts not prepared under Companies Act 1956. Amendment aligning Section 115JB with...

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Exemption u/s. 54B denied - Assessee did not file return of income - As observed on the amendment in section 139(1) of sixth Proviso, section 54, section 54B or section...

TP Adjustment - US Transactions non US Transactions - scope of MAP agreement - It would be better to refer to the settlement arrived between the competent authority of...

Seeking to remove the encumbrance of the attachment in the petitioner's property - specific case of the petitioner is that the petitioner is a bona fide purchaser of the...

The NCLAT held that Section 238 of the IBC gives overriding effect to proceedings u/s 7, despite Section 10 of CPC. Proceedings u/s 7 must proceed, as the Code's...

TP Adjustment - Arms length price adjustment on account of interest on external commercial borrowings - the rate of interest has been accepted by the Assessing Officer...

Addition u/s 43CA - differential amount of consideration shown in the document and the Stamp Duty Valuation - The transfer under the provisions of section 43CA is...

Disallowance u/s 40A(3) - splitting the payments in excess of ₹ 20,000 - Genuine and bona fide transactions are not taken out of the sweep of the section -...

The High Court held that the acquisition of the trademark 'FABINDIA' during the financial year 2006-07 could not be treated as an international transaction within the...

Understatement in the value of a flat sold - Addition u/s 43CA - Without making any enquiry or bringing material on record to establish the fact that the assessee has...

CIRP - Preferential Transactions or not - related transaction or not - Transaction within look bak period - such transactions are carried with intent to defraud...

Scope of Explanation C of Section 43B - Actual payment of interest or not - Issuance of debenture in lieu of Interest - since Explanation 3C was added in 2006 with the...

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...

Whether restriction regarding the requirement of minimum 20 cm. diameter contemplated under sub-clause (3) of Clause 7 in the table of the Notification No. 6/2006-C.E.,...

Quick Updates: