Assessee-bank had sold immovable properties.\u00a0 Assessing Officer held\u00a0 that stamp duty value of one property was shown at Rs. 11.55 crores against sale consideration of Rs. 7 crores. Accordingly, he had made an addition of Rs. 11.55 crores as long term capital gain (LTCG) on ground that assessee had failed to provide proof of purchase consideration of sold out flat for a sale consideration of Rs. 7 crores as against stamp duty value. CIT(A) affirmed the addition. On appeal the Tribunal held that principles of natural justice is violated hence the\u00a0 is\u00a0 remanded to Assessing Officer for de novo consideration as per the provisions of section 43CA read with section 50C\u00a0 of the Act. (AY. 2019-20)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 50 :Capital gains-Depreciable assets-Block of assets-Immovable property-Stamp value and actual consideration-Matter is remanded to Assessing Officer for de novo consideration as per the provisions of section 43CA read with section 50C of the Act.[S.43CA, 45, 50C]<\/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":[21],"tags":[],"class_list":["post-55345","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eoF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55345","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=55345"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55345\/revisions"}],"predecessor-version":[{"id":55346,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55345\/revisions\/55346"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}