Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (1) TMI 698 - HC - Income TaxSuppressed sale consideration - unit sold by the assessee at a lower rate than the other flats in the same building - CIT-A allowed the Appeal after considering the difference of sale transaction and holding that the sale was not under valued also upheld by Tribunal - HELD THAT:- Both, the Commissioner of Income Tax (Appeals) and Tribunal, have assessed the facts on record. The finding of fact is that Unit No. 302 suffers structural and locational disadvantage from the units which were taken into consideration as comparable units. The Tribunal also took into consideration that the price for sale consideration for Unit No. 302 was higher than the ready reckoner prepared by the State of Maharashtra for the stamp duty valuation. There is thus a finding of fact rendered by two authorities concurrently. The issue being one of the fact after assessment of evidence and the approach of the authorities in assessing the evidence is not having been found perverse, the Appeal does not give any rise to any substantial question of law.
|