{"id":10242,"date":"2020-03-06T09:22:44","date_gmt":"2020-03-06T09:22:44","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-virender-kumar-bhatia-2020-268-taxman-412-delhi-hc\/"},"modified":"2020-03-06T09:22:44","modified_gmt":"2020-03-06T09:22:44","slug":"pcit-v-virender-kumar-bhatia-2020-268-taxman-412-delhi-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-virender-kumar-bhatia-2020-268-taxman-412-delhi-hc\/","title":{"rendered":"PCIT v. Virender Kumar Bhatia (2020) 268 Taxman 412 (Delhi) (HC)"},"content":{"rendered":"<p>Assessee&#8217;s company\u00a0 purchased land for consideration of Rs. 1.57 crores.\u00a0 The AO\u00a0 held that actual purchase price was Rs.4.95 crores while assessee declared lesser purchase value at Rs.1.57 crores, and later on through sale consideration received unaccounted money. Tribunal deleted the addition. On appeal by the revenue the Court held that\u00a0 since this was not a case where assessee accounted for lesser sale consideration but this was a case of under accounted purchase consideration accordingly no addition could be made on account of undisclosed income. Order of Tribunal is affirmed.\u00a0 (BP 1998- 99 to\u00a0 2003 -04)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69 : Unexplained investments-Undisclosed income- Immoveable property-Purchase consideration is alleged to be  undervalued-Deletion of addition is held to be justified.  [S. 158BC] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10242","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2Fc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10242"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10242\/revisions"}],"predecessor-version":[{"id":10243,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10242\/revisions\/10243"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}