GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
What's New Case Laws Highlights Articles News Forum Short Notes Statutory TMI SMS More ...
Extracts
Home List
← Previous Next →

2015 (6) TMI 426 - PUNJAB & HARYANA HIGH COURT

2015 (6) TMI 426 - PUNJAB & HARYANA HIGH COURT - TMI - Reopening of assessment - adoption of sale price - whether AO was justified in applying the same sale price to the land sold by the appellant, which was sold in a different year? - Held that:- There does not appear to be even any attempt at arriving at the real/actual rate. There are certain aspects which require consideration. For instance, the rate of ₹ 19,837/- per marla was in respect of the transaction in the year 2006-07 whereas .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t, only for this limited reason, namely, the authorities ought to have made an effort to ascertain the price rather than merely relying upon the rate at which the lands were sold in the subsequent year. Matter is remanded to the Assessing Officer, only for the limited purpose of ascertaining the rate at which the appellant could have sold his lands. - Decided in favour of assessee. - ITA No. 284 of 2014 - Dated:- 25-5-2015 - S J Vazifdar, ACJ And G S Sandhawalia,JJ. For the Appellant : Mr Sandee .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

55,93,517/-. The matter pertains to the assessment year 2006-07. 2. A search was conducted at the premises of one Rajan Setia. The documents seized at the search reflected transactions between the said Mr.Setia and one Y.Lali, who in turn, had purchased various pieces of land inter alia from the appellant's brother. The documents seized indicated that the lands were sold at a rate of about ₹ 19,837/- per marla. In the re-assessment proceedings, it is this rate which has been applied in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

sold by Shri Surjit Singh though the lands were sold by the appellant one year before the sale of land by Shri Surjit Singh? 3. Whether on the facts and circumstances of the case, the Ld. AO was justified in applying the same rate of sale price of land as applied by Shri Surjit Singh even though the land of Shri Surjit Singh was located opposite to Office of Deputy Commissioner and was on the road whereas property of the appellant was on back of land of Shri Surjit Singh and would fetch lesser .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Advanced Search


Latest Notifications:

    Dated      Category

20-7-2017 Cus (NT)

20-7-2017 GST CESS Rate

19-7-2017 IT

19-7-2017 IT

18-7-2017 IT

18-7-2017 CE (NT)

18-7-2017 CE

18-7-2017 GST CESS Rate

15-7-2017 Kerala SGST

14-7-2017 Andhra Pradesh SGST

14-7-2017 Cus (NT)

14-7-2017 Cus

13-7-2017 Co. Law

13-7-2017 Co. Law

13-7-2017 ADD

13-7-2017 ADD

12-7-2017 Jammu & Kashmir SGST

12-7-2017 Gujarat SGST

12-7-2017 Gujarat SGST

12-7-2017 CGST Rate

More Notifications


Latest Circulars:

21-7-2017 Goods and Services Tax

20-7-2017 Goods and Services Tax

20-7-2017 Goods and Services Tax

19-7-2017 Goods and Services Tax

19-7-2017 Income Tax

18-7-2017 Customs

17-7-2017 Customs

14-7-2017 Income Tax

13-7-2017 Central Excise

13-7-2017 Customs

More Circulars



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version