Profits on sale of Flats - disallowance in respect of additional ...

Income Tax

November 16, 2023

Profits on sale of Flats - disallowance in respect of additional cost of construction of Tower - We see no infirmity in the cost of construction claimed by the assessee for the year under consideration at Rs. 3438/- per sq.ft. which is below the average rate communicated by GPL and the final rate agreed with GPL. - AT

View Source

← Previous Next →

Profits on sale of Flats - disallowance in respect of additional ...

Income Tax

November 16, 2023

You may also like:

Taxability of profits arising on sale of three flats through execution of sale deeds - proportionate cost of construction for three flats out of total eight flats comes...

Nature of activity - Sale of flat or construction service - when the appellant himself is approaching the Authorities for issuance of the completion certificate after...

Capital gains - sale of flat allotted by cooperative housing society - cost of acquisition, non-allowance of registration expenses and cost of improvement - cost as...

Disallowance u/s 40 (a) (iib) - payment of Gallonage Fee, Licence fee, Shop rental (Kist) and Surcharge on Sales Tax - the levy of Gallonage Fee with respect to the...

Capital gain computation - cost of acquisition as well as cost of construction - AO has not even attempted to verify the correctness of the cost of land and construction...

Effect of negative regime on Construction of Complex Services - tri-partite agreement - providing free of cost flats to all the existing members of the Society in lieu...

Taxable event - Completion of contract - profit on sale of the flats - Advance received from VGP which in fact is the sale proceeds of the flats, on completion of the...

Valuation - works contract - construction of complex / flats - Deduction of land cost - land cost allowed to be deducted - HC

Sale of four flats constructed by the Society by utilising additional FSI available with it - treatment as business income - flats were allotted to members - receipt not...

Undisclosed receipt on sale of flats/space - Sale of flats of VT [Vatika Triangle] - The burden shifted to the Revenue to show, on the basis of some reliable and...

Long term capital gain on sale of plot of land - Cost of improvement being the cost of construction of boundary wall - Having regard to the facts and circumstances of...

Addition to the valuation of unsold flats - the valuation of unsold stock at the close of an accounting period is a necessary part of the process of determining the...

Estimating the profit on alleged unrecorded sales - A.O. directed to make addition by estimating profit @ 15% of the amount so deposited in the bank account with respect...

LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it...

Addition of sales of flats - suppression of sale price of the flats in order to evade the tax - The maxim Falsus in uno and falsus in omnibus has an obligation in India...

Quick Updates: