Daily Archive: Sunday, May 15, 2016

FMV-No approach road and weaker sections society in colony. DVO directed to give 30% adjustments in calculating fair market value for disadvantnages-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
FMV-No approach road and weaker sections society in colony. DVO directed to give 30% adjustments in calculating fair market value for disadvantages-ITAT Hyderabad Case Law Details: ITA.No.1782/Hyd/2011 Assessment Year 2008-2009 Smt. M. Nagarathnamma Madanapalle vs.  Income Tax Officer date of Judgment/Order: 13/05/2016 Brief Facts of the Case: During the

Deemed consideration us 50C eligible for 54F exemption for capital gain purpose. Net consideration include Fair market value under deeming fiction

Author: | Categories: Income Tax, ITAT, Judgments No comments
Deemed consideration us 50C eligible for 54F exemption for capital gain purpose. Net consideration include Fair market value under deeming fiction. This was held by ITAT hyderabad in a recent judgment as under: Case Law Details: ITA.No.848/Hyd/2015 Assessment Year 2010-2011 Income Tax Officer (Appellant) vs. Kondal Reddy Mandal Reddy (Respondent)

DVO Reference us 50C2 must when assessee requested. It was wrong to say that since stamp value was not challenged there was no such need-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
DVO Reference us 50C2 must when assessee requested. It was wrong to say that since stamp value was not challenged there was no such need. This was held in a recent judgment by ITAT Hyderabad. Case Law Details: ITA.No.708/Hyd/2014 Assessment Year 2008-2009  T. Vijayasaradhi  vs. Addl. CIT Date of Judgment/Order:

Bedridden person can have agriculture income, advance loan. Summarily Rejecting creditworthiness despite pattadar passbook without verification wrong-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Bedridden person can have agriculture income, advance loan. Summarily Rejecting creditworthiness despite pattadar passbook without verification wrong-ITAT. This was held by ITAT Hyderabad in a recent judgment as under: Case Law Details: ITA No. 1535/Hyd/2014 (Assessment year: 2009-10) Chenna Reddy Sesha Reddy  (Appellant) vs. Income Tax Officer (Respondent) Date of

Legal Heir Registration Income Tax Return efiling process on behalf of deceased person. How to Register and what documents are required.

Author: | Categories: Income Tax 1 Comment
Legal Heir Registration Income Tax Return efiling process on behald of a deceased person The registration of legal Heir (LH) is for the purpose of filing electronic income tax return on behalf of the deceased person. Legal Heir of the deceased person should register as a Legal Heir to

DVO Valuation report taking 2 Percent per month escalation for determining the value of property relying on none month old sales instance was not based on any Income Tax Rules-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
DVO Valuation report taking 2 Percent per month escalation for determining the value of property relying on nine month old sales instance was not based on any Income Tax Rules. This was held by the ITAT Hyderabad in a recent judgment. It also pointed out that if the DVO has not followed
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