Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
LTCG - Determination of Fair Market Value (FMV) - The Assessing Officer and the Commissioner of Income Tax (Appeals) accepted the fair market value of the property as on April 1, 1981, as calculated by the registered valuer. However, they failed to apply indexation benefits to the cost of acquisition while determining long-term capital gain. The Tribunal observed that the indexed cost of acquisition should have been considered, which would have resulted in long-term capital loss, as it exceeded the sale consideration.
LTCG - Determination of Fair Market Value (FMV) - The Assessing Officer and the Commissioner of Income Tax (Appeals) accepted the fair market value of the property as on April 1, 1981, as calculated by the registered valuer. However, they failed to apply indexation benefits to the cost of acquisition while determining long-term capital gain. The Tribunal observed that the indexed cost of acquisition should have been considered, which would have resulted in long-term capital loss, as it exceeded the sale consideration.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
