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2018 (5) TMI 1687 - AT - Income TaxValuation of land u/s 50C - Sale of disputed property - disallowance of expenditure incurred towards land levelling, construction of wall and a room - Held that:- Assessee has sold the property with the disputes in the property - some disputes were unsettled at the time of sale, which is evident from the list of cases pending for which the court orders which were submitted subsequent to the date of sale - thus assessee is eligible to claim the adjustment in the valuation of land to the extent of 30% as per the guidelines for valuation of Immovable Properties, 2009 - Decided in favor of assessee Expenditure incurred towards advocate fee disallowed - self made vouchers - Held that:- Assessee has legal disputes with the parties, who are claiming to be the owners of the land - since the vouchers are self-made, the issue is remitted back to AO in order to give one more opportunity to assessee to file proper confirmation with details such as, address and PAN details - Decided in favour of assessee for statistical purpose Disallowing the expenditure incurred towards land levelling, construction of wall and a room - Held that:- Evidences are submitted before the authorities to show that there existed compound wall and room adjacent to the land - thus the matter is remitted back to AO to determine the value with the assistance from DVO with reasonableness and allow the same as cost incurred to build the compound wall and a room - Decided in favour of assessee for statistical purpose
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