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 July 2019 Year 2019 This

Unaccounted investment - the sale price on the basis of signed ...


AO's Addition Unjustified: Unsigned Documents Can't Override DVO's Report on Property Sale Price.

July 12, 2019

Case Laws     Income Tax     HC

Unaccounted investment - the sale price on the basis of signed documents is accepted by the department in the hands of sellers of the property - AO without rejecting the report of the DVO which was prepared at his instance not justified making addition on the basis of the unsigned documents

View Source

 


 

You may also like:

  1. Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO...

  2. Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

  3. Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

  4. Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be...

  5. Assessment u/s 153A - unexplained investment in Hotel Building - addition under sec 69 r.w.s. 115BBE - reliance on DVO report post-search - Held, DVO report...

  6. Revision u/s 263 based on DVO's report received after assessment culmination was invalid as per section 142A(4), DVO failed to provide opportunity of being heard to...

  7. ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed...

  8. AO rejected registered valuer's report for cost of acquisition and relied on section 55A. ITAT held that if AO was unsatisfied with registered valuer's report, he should...

  9. Capital gain computation - cost of acquisition of the asset as on 01.04.1981 - valuation report of the DVO Vs. Registered valuer Report - Approved Valuer’s report taking...

  10. u/s 56(2)(vii)(b), the addition was made based on the difference between the stated value and the District Valuation Officer's (DVO) valuation. It was held that an...

  11. ITAT upheld the CIT(A)'s order with key findings: (1) Electronic evidence seized during search was admissible under Section 65B of Indian Evidence Act, (2) Cash receipts...

  12. E-commerce business - Selling at a price lower than the cost price - unless certain provisions such as Section 145(3)are invoked, the AO is not empowered to go beyond...

  13. ITAT ruled on unexplained purchases under s.69C and unaccounted sales. For unexplained purchases in non-edible oil business, ITAT directed estimation of profit at 8%...

  14. Addition u/s 56(2)(vii)(b) - AO referred the valuation of property to Valuation Cell and DVO - difference between the DVO value and consideration paid for purchase of...

  15. CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation,...

 

Quick Updates:Latest Updates