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2022 (1) TMI 1417 - AT - Income TaxAddition u/s 43CA - difference between the agreement value and market value as per registered agreement - assessee stated that payment & allotment letters for the impugned items were received much earlier - CIT(A) has held that he was of the opinion that invariably the stamp value date on registration has to be adopted and hence, he was upholding the order of the AO HELD THAT:- CIT(A) conclusion is quiet contrary to what the AO has held. AO has clearly accepted the assessee’s contentions that he is in agreement that ready recokner value on the date of allotment is being considered. Hence, the reason for CIT(A) in upholding the addition is not as per the facts on record. In any case, we note that this is assessees plea that section 43CA was introduced w.e.f. 01.04.2013 and the agreement under consideration were entered into prior to 31.03.2013.This is assessees plea that difference is only 5% between the ready recokner rate and sale consideration. Hence, this is assessees plea that the same has to be ignored on the touchstone of Krishna Enterprises vs ACIT[2016 (12) TMI 52 - ITAT MUMBAI] - Thus issue decided in favour of the assessee.
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