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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Valuation of property - stamp duty purposes - Whatever may be ...

Income Tax

March 18, 2014

Valuation of property - stamp duty purposes - Whatever may be the problems suffered by an assessee, in reality, those reasons cannot be permitted to go beyond the scope of section 50C - AT

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  2. Addition u/s 56(2)(vii)(b) - purchase of immovable property on less than stamp duty value - it was incumbent upon the AO to refer the matter to the District Valuation Officer

  3. Power of attorney (GPA) to non relatives in respect of immovable property - payment of full stamp duty in case of GPA - Indian Stamp Act, 1899 - Decided in favor of revenue - SC

  4. LTCG - valuation of the property to the DVO - Valuation report given by the DVO cannot be ignored. Since the DVO himself valued the property which is less than the value...

  5. Addition u/s 50C - Capital Gains - For the purposes of third proviso to S. 50C(1) of I.T.Act; the valuation of the property by DVO has no relevance; and what is material...

  6. Capital gain computation - value determined by the stamp duty authorities in terms of Section 50C(1) - When assessee objected the value adopted or assessed by the stamp...

  7. Refund of stamp duty - Stamp papers purchased for registration of immovable property but the same could not be executed - The denial of refund of the stamp duty...

  8. Valuation of property - assessee clearly objected before the Assessing Officer against the adoption of stamp duty valuation - It was duty of the Assessing Officer to...

  9. Unexplained expenditure u/s 69C - expenditure of stamp duty paid for registration of property sold - additions confirmed - HC

  10. Whether stamp duty is payable on the transfer of properties pursuant to the sanction of any scheme of amalgamation or demerger under the Companies Act, 1956 - Held yes - HC

 

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