LTCG on sale of property - reference to ld. DVO - if the sale ...

Illegal Reference to DVO in LTCG Property Sale When Stamp Valuation Matches or Exceeds Sale Consideration.

January 12, 2024

Case Laws Income Tax AT

LTCG on sale of property - reference to ld. DVO - if the sale consideration shown by the assessee itself is equal to or less than the value fixed by the stamp valuation authority, the value shown by the assessee is to be adopted as the full value of consideration - the reference made per se thereon is illegal and against the provisions of section 50C of the Act which is a specific provision. - AT

View Source

← Previous Next →

LTCG on sale of property - reference to ld. DVO - if the sale ...

Illegal Reference to DVO in LTCG Property Sale When Stamp Valuation Matches or Exceeds Sale Consideration.

January 12, 2024

Case Laws Income Tax AT

You may also like:

LTCG - valuation of the property to the DVO - Valuation report given by the DVO cannot be ignored. Since the DVO himself valued the property which is less than the 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...

Reference of the matter to the DVO for valuation - difference in value adopted for stamp violation and actual amount received for sale of the immovable property - there...

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)...

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...

The appeal challenges the liability to pay stamp duty and penalty on agreements executed prior to the sale deed for two properties. The court determined the real...

CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation,...

Computation of LTCG - assessee objects Stamp Duty valuation u/s. 50C before AO and requested to reference to DVO - Based on precedent AO should have refered valuation to...

Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

Validity of making a reference to the DVO u/s 142A - unexplained expenditure u/s 69C - ejection of books of accounts is a pre-condition for making a reference to DVO and...

Valuation made by the assessee exceeds the value adopted by the stamp valuation authority - No question of referring the valuation of the plots in question to the...

Capital gain computation - valuation of property - Valuation report of DVO, after all, cannot be treated as the last word on valuation, and there has to be a grievance...

LTCG - Deemed Sale Value - DVO was not justified in valuing the building, because the assessee was owner of the land only and the building was not constructed or owned...

u/s 56(2)(vii)(b), the addition was made based on the difference between the stated value and the District Valuation Officer's (DVO) valuation. It was held that an...

Addition u/s 56(2)(vii)(b) - difference between the stamp duty value and the actual purchase consideration - - DVO has given due consideration for the location of the...

Quick Updates: