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2016 (5) TMI 1019 - AT - Income TaxRevision u/s 263 - understatement of fair market value for the purpose of stamp duty - Held that:- . Nothing has been brought on record that the Ld.CIT had some material before him that the assessable value is more and that the stamp valuation authorities have raised additional demand on account of stamp duty/additional stamp duty till the date of passing of the order although substantial time has elapsed from the date of registration (25-02-2010) and passing of the order u/s.263 (25-03-2015). The revenue authorities have raised additional demand on account of stamp duty/additional stamp duty after a lapse of more than 5 years the order of the CIT setting aside the assessment to the file of the AO, in our opinion, is not in accordance with law. In our opinion, the CIT cannot set aside the order to the file of the AO to make phishing and roving enquiries. We therefore quash the order passed u/s.263 by the Ld.CIT and the grounds raised by the assessee are allowed.
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