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2023 (7) TMI 233 - ITAT DELHIDeemed income liable for capital gain tax - difference in sale consideration as per sale-deed and circle rate determined by the Stamp Valuation Authority - HELD THAT:- Before AO it was stated that the property was gifted but not sold. However, the AO did not accept this explanation on the basis that Smt. Arvind Kaur had received sale consideration at Rs. 4,00,000/- i.e. Rs. 1,00,00/- in cash and Rs. 3,00,000/- by cheque. This fact is not controverted by the assessee by placing any material before us. CIT(Appeals) has rightly concluded that property once gifted cannot be sold or bequeathed. The assessee has failed to bring any evidence to controvert the finding of the lower authorities. Decided against assessee.
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