Tag: Section 50C
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 …
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 …
DVO Reference u/s 55A condition u/s 50C applies only when stamp duty value is higher than the sales consideration as per agreement. This was held by ITAT Mumbai in its recent judgment as under: Case Law Details: ITA No. 5133/Mum/2014 Assessment Year : 2009-10 Dy. Commissioner of Income Tax vs. M/s Shree Aditya …
ITAT, Ahmedabad has held that sale of shops by the assessee which were distributed on dissolution of partnership firm amounts to capital gain not business income. Case Details: ITA.No.1239/Ahd/2012 Asstt. Year: 2008-2009 DCIT vs. Mafatlal Nathalal Patel Date of Order: 01/04/2016 Brief Facts of the Case: The assessee was partner in …