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 August 2019 Year 2019 This

Computation of long term capital gains - reference to DVO - FMV ...


Taxpayer's Declared Property Value Accepted: No Section 55A Reference Allowed for Lower Valuation by DVO.

August 20, 2019

Case Laws     Income Tax     AT

Computation of long term capital gains - reference to DVO - FMV declared by assessee as on 01.04.1981 - no reference can be made u/s 55A in order to value the cost of acquisition of property as on 01.04.1981 at a figure lesser than the value declared by the assessee - directed to accept FMV declared by assessee

View Source

 


 

You may also like:

  1. Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable...

  2. 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...

  3. CESTAT set aside the order rejecting the declared value of imported cloves from Indonesia/Tanzania. While the importer failed to furnish evidence supporting lower...

  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. Computation of capital gain - If after such reference, the value fixed by the stamp valuation authorities is still to adopted, ignoring the lower value fixed by the DVO...

  6. LTCG - valuation - reference could be made to DVO only if the value declared by the assessee is in the opinion of AO less than its fair market value - in this case FMV...

  7. Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

  8. Reference to DVO - Determination of cost of acquisition - if the value declared by an assessee on the strength of registered valuer’s report is more than the fair market...

  9. Determining the short term capital gains - adopting different value from market value of the property - sale of the property lower than the value adopted by the Stamp...

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

  11. 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...

  12. The CESTAT examined the overvaluation of goods case involving rejection of declared export value, re-determination of value, confiscation of goods, and penalties. The...

  13. LTCG on sale of property - reference to ld. DVO - if the sale consideration shown by the assessee itself is equal to or less than the value fixed by the stamp valuation...

  14. The assessee purchased agricultural land whose stamp duty valuation was lower than the actual purchase consideration. The authorities sought to invoke section 56(2)(x)...

  15. Capital gain computation - valuation of property - Valuation report of DVO, after all, cannot be treated as the last word on valuation, and there has to be a grievance...

 

Quick Updates:Latest Updates