Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Difference between purchase value and value determined by...
Purchase value vs. District Valuation Officer's value differed <10%. Transacted amount within tolerance limit. No addition warranted u/s 56(2)(x)(b)(B)(ii).
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount within tolerance limit. Assessee eligible for benefit of 10% margin difference in valuation between value determined by stamp duty authority and declared sale consideration. If variation between two values within 10% range, no addition warranted u/s 56(2)(x)(b)(B)(ii). Since variation 9.14%, no addition tenable. Addition by Assessing Officer deleted. Ground allowed.
Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount within tolerance limit. Assessee eligible for benefit of 10% margin difference in valuation between value determined by stamp duty authority and declared sale consideration. If variation between two values within 10% range, no addition warranted u/s 56(2)(x)(b)(B)(ii). Since variation 9.14%, no addition tenable. Addition by Assessing Officer deleted. Ground allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
