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 2020 Year 2020 This

Undisclosed investment - land received from Aunt - Amount ...

Income Tax

March 18, 2020

Undisclosed investment - land received from Aunt - Amount disclosed in the sale deed - Assessee stated that no amount paid to Aunt - It is not the case of the assessee that the contents of the sale deed were ambiguous or of such a nature which required elaboration or clarification through oral evidence. Nor she has alleged any fraud, misrepresentation, intimidation, or want of due execution or want of capacity in any executing party, or failure of consideration, or mistake in fact of law. - Additions confirmed - AT

View Source

 


 

You may also like:

  1. Undisclosed incomes - investment in Purchase/sale of immovable property - The onus on the department to prove that investment was made by Assessees or sale consideration...

  2. Nature of transfer of land - agriculture land or not - sale deed shows that the properties in question have been referred as “industrial plot” for industrial purposes. -...

  3. Reopening of assessment u/s 147 - Addition of on-money received by the assessee on sale of land - the sale consideration qua the transaction of sale of land in question,...

  4. Addition of undisclosed income arising out of sale of land - on-money - Once, nature and character of land sold is established as agricultural land not to be treated as...

  5. Undisclosed investment u/s.69 - Since, the partnership deed is subsequent to the date of purchase of land, the partnership firm by no means could have made investment...

  6. Long Term Capital Gains - claim of conversion of agriculture land into stock-in-trade - The assessee was required to disclose such lands as stock in trade in books of...

  7. Deletion of undisclosed investment in fixed deposits – merely for the reason that there was a mistake in making entries, a disclosed investment cannot be treated as...

  8. Capital gains - nature of land sold - land converted into a barren land to establish an industrial estate - land sold by the assessee through sale deed in favour of...

  9. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

  10. Gain on sale of land - Nature of land - agricultural land or capital asset or business receipts - Simply showing the land in the balance sheet as an investment is not...

  11. Assessment u/s 153C - Undisclosed investment u/s 69 r.w.s 115BBE - Whether incriminating material belonging to Assessee found during the course of search on the basis of...

  12. Unexplained investment OR STCG - Investment in land from undisclosed sources made in purchase of land from various persons/farmers - Suspected short term capital gain...

  13. Undisclosed income - addition u/s 68 - Undervaluation registration of property - The assessee led substantial evidence to establish that the amount treated to be...

  14. Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

  15. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

 

Quick Updates:Latest Updates