Addition invoking provisions u/s 56(2)(vii)(b) - assessee only ...

Income Tax

November 9, 2022

Addition invoking provisions u/s 56(2)(vii)(b) - assessee only received lease hold right for 99 years - difference of stamp value minus sales consideration - The definition of property does not refer to rights or transactions which may enable use or enjoyment of property and it appears that having regards to description context and objective, acquisition of such rights cannot be equated with immovable property. - AT

View Source

← Previous Next →

Addition invoking provisions u/s 56(2)(vii)(b) - assessee only ...

Income Tax

November 9, 2022

You may also like:

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...

Addition u/s. 56(2)(vii)(b)(ii) - difference between the stamp duty value and the consideration paid - Since, in the present case agreement was executed on 31/03/2013...

Addition u/s 56(2)(vii)(b) - purchase of immovable property on less than stamp duty value - it was incumbent upon the AO to refer the matter to the District Valuation Officer

Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased...

Additions u/s 56(2)(vii)(b) - purchase of immovable property - difference in value as per stamp duty valuation - since the Sale Deed itself got cancelled vide...

Revision u/s 263 - provision of s.56(2)(vii)(b)(ii) was applicable - market value of the subject property vs stamp value - the stated sale consideration is not the...

Addition u/s 56(2)(vii) being the difference between value mentioned in the Conveyance Deed and the stamp duty value of Immovable properties - This is not the assessee’s...

Addition u/s 56(2)(vii)(b) - Purchase of property below circle rate / stamp value - since the assessee/co-owners has made part payment (part consideration of Rs. 3...

Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...

Addition u/s 56(2)(vii)(b)(ii) - FMV of property - The events subsequent to the transaction of “transfer” of the immovable property under consideration will have no...

Quick Updates: