Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Income Tax Officer, Ward-9 (3) , Surat Versus Ravjibhai Nagjibhai Thesia

2015 (11) TMI 1571 - ITAT AHMEDABAD

Valuation - Addition of undisclosed income made u/s. 50C - sale of land - Revenue’s endeavor is to restore the entire addition sum of ₹ 2,17,70,600/- based on jantri price of the land sold instead of DVO’s valuation determining the same to be o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

aw to the contrary is referred in the course of hearing. We find no fault with the lower appellate order in these facts and circumstances. The CIT(A)’s action in restricting the impugned undisclosed income addition of ₹ 2,17,70,600/- to ₹ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

. Patel, A.R. S. S. Godara (Judicial Member) This Revenue s appeal for A.Y. 2006-07, arises from order of the CIT(A)-V, Surat dated 28-02-2012 in appeal no. CAS/V/206/11- 12, in proceedings under section 143(3) r.w.s. 147 of the Income Tax Act, 1961; .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

termined by the DVO in his report submitted before CIT(A). Facts of the case are in a narrow compass. The assessee sold his lands in Sur. No. 602, 686, 688 and 689 at Adajan, Surat city for ₹ 16 lacs. Its stamp value/jantri price was ₹ 2, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

The assessee filed appeal. He pleaded therein that the Assessing Officer ought to have made a reference to the DVO. The CIT(A) accepted this plea and sought DVO s report. The same came on 27-12-2011 determining value of land sold to be ₹ 24,15 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

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

Go to Mobile Version