Income from other sources u/s 56 (2) (x) - purchased the ...

Income Tax

February 28, 2024

Income from other sources u/s 56 (2) (x) - purchased the property - difference between the valuation adopted by the district valuation officer and actual consideration - While the appellant asserts the necessity of establishing "on money" payments to warrant taxation under the Act, the tribunal maintains that the absence of such evidence does not preclude the application of anti-avoidance provisions. - The tribunal upholds the decision of the CIT(A) to confirm the addition u/s 56(2)(x)(b), holding the appellant liable for the additional tax resulting from the disputed property valuation.

View Source

← Previous Next →

Income from other sources u/s 56 (2) (x) - purchased the ...

Income Tax

February 28, 2024

You may also like:

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) - AO referred the valuation of property to Valuation Cell and DVO - difference between the DVO value and consideration paid for purchase of...

Addition u/s 56(2)(vii)(b) - Difference between the agreed consideration and Valuation adopted by the DVO - Assessee is one of the party who along with four others...

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) - difference between Stamp duty Valuation and purchase consideration as per registered sale deed of immovable property - whether on date of...

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)(viib) - valuation of shares - the valuer has merely adopted the projections made by the management and there was substantial difference in cash flow...

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...

Income from other sources u/s. 56(2)(x) - difference of stamp duty value and the actual consideration - tolerance band limit from 5% to 10% under section 56(2)(x) to be...

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...

Quick Updates: