S. 68 : Cash credits-Agricultural income-Lease agreement furnished-Deletion of addition is affirmed-Un secured loan-Discharged the burden-Deletion of addition is justified. [S. 10(1), 133(6)]
S. 68 : Cash credits-Agricultural income-Lease agreement furnished-Deletion of addition is affirmed-Un secured loan-Discharged the burden-Deletion of addition is justified. [S. 10(1), 133(6)]
S. 68 : Cash credits-Income from undisclosed source-Income declared under IDS, 2016-Telescoping-Matter remanded to the Assessing Officer. [S. 69, 69A]
S. 56 : Income from other sources-Share premium-Valuation report by the Chartered Accountant-Considering net-worth of two step down subsidiaries-Acquired after valuation date-Addition is affirmed. [S. 56(2)(viib), R. 11UA]
S. 56 : Income from other sources-Shares at premium-Valuation of report by the Chartered Accountant-DCF method-Deletion of addition is affirmed. [S. 56(2) (viib), R. 11UA]
S. 54F : Capital gains-Investment in a residential house-Only part of consideration is utilised for purchase of property before due date of filing of return-Balance consideration is not deposited under Capital gains Account Scheme-Exemption is not available. [S. 54B,54F(4)139(1)]
S. 50C : Capital gains-Full value of consideration-Stamp valuation-Objection by the Assessee-Matter remanded to the Assessing Officer to refer the matter to District Valuation Officer-Reassessment is held to be valid. [S. 45, 147, 148]
S. 54F : Capital gains-Investment in a residential house-Date of agreement to be considered as date of sale-Amount paid for purchase of new property is more than the amount of sale consideration-Entitle to exemption. [S. 45]
S. 54F : Capital gains-Investment in a residential house-Deposit in specified account-Utilised before date specified under section 139(4)-Entitle to exemption-Refurnishing of new residential house-Habitable-Eligible for deduction [S. 45, 54F(4), 139(4)]
S. 48 : Capital gains-Mode of Computation-Registration expenses for sale of land-Brokerage-Allowable as deduction-Matter remanded to the Assessing Officer for verification. [S. 45]
S. 45 : Capital gains-Property converted into stock in trade-Sale agreement entered into-General power of attorney-Sale is not registered-Sale is not complete on handing over of possession-Sale cannot be chargeable to capital gains tax. [S. 2(47)(v) 28(i), 153C, Transfer of Property Act,1882, S. 53A]