Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Sale of immovable property held in stock - Difference between ...


Assessing Officer Questions Sale Price of Property as Unexplained Income; Section 50C and 43CA Impact Examined.

March 27, 2019

Case Laws     Income Tax     AT

Sale of immovable property held in stock - Difference between market value and actual sale price treated by AO as unexplained income - applicability of section 50C on stock in trade - insertion of Section 43CA by the Finance Act 2013 - amendment is prospective

View Source

 


 

You may also like:

  1. The assessee, a company engaged in development/construction and sale of flats and plots, had classified its properties into four categories: flats open for sale, let-out...

  2. The case pertains to the applicability of Section 43CA, which deals with the adoption of stamp duty value as the full value of consideration for computing profits and...

  3. Long Term Capital Gains - valuation u/s 50C - commercial property or residential property - the Assessing officer at most, can have referred the matter to the District...

  4. Assessee utilized long-term capital gain from sale of immovable property for purchase of new residential property within permissible time period. Purchase consideration...

  5. Revision u/s 263 - error noted by the CIT that sale of properties by the assessee during the year was not examined by the AO vis-à-vis its stamp duty value for the...

  6. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  7. In the case before ITAT Jabalpur, the issue revolved around the addition u/s 43CA concerning the variance between the sale consideration and the market value of a...

  8. Inter state sale or Intra-state sale - elevators are sold to the contractees - If we understand correctly what the Assessing Officer is trying to convey is that had the...

  9. Reopening of assessment - allegation of undisclosed source of purchase of property - If the Assessing Officer has to say that there are two properties purchased, either...

  10. Valuation of imported STBs for the purpose of levy of CVD - Transaction Value or Retail Sale Price (RSP) - There is no element of sale involved in as much as the...

  11. The ITAT allowed the assessee's appeal for statistical purposes and remanded the matter to the Assessing Officer/Transfer Pricing Officer for fresh adjudication....

  12. The Appellate Tribunal (ITAT) considered Transfer Pricing (TP) adjustments related to foreign exchange gains and engineering services. The assessee used Transactional...

  13. Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

  14. Levy of differential Additional Duty of Customs - Valuation for CVD - In this case since the goods are not sold to the consumer there cannot be a retail sale price. The...

  15. LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled...

 

Quick Updates:Latest Updates