Addition u/s.56(2)(vii)(b)(ii) - difference between the value ...

Tamil Nadu Property Valuation: DVO Must Consider 2017 Reduction in Circle Rates u/s 56(2)(vii)(b)(ii) of Income Tax Act.

October 19, 2022

Case Laws Income Tax AT

Addition u/s.56(2)(vii)(b)(ii) - difference between the value fixed by the stamp duty authorities and the sale consideration - Government of Tamil Nadu has reduced the circle rates of the property w.e.f.2017 - DVO should consider the subsequent downward revision of guideline value for the purpose of registration of properties i.e., the circle rate and give weightage to the same and then estimate the fair market value of the property.- AT

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Addition u/s.56(2)(vii)(b)(ii) - difference between the value ...

Tamil Nadu Property Valuation: DVO Must Consider 2017 Reduction in Circle Rates u/s 56(2)(vii)(b)(ii) of Income Tax Act.

October 19, 2022

Case Laws Income Tax AT

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