Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Immovable property purchased, stamp duty value higher than consideration paid. Assessee's request to refer matter to Valuation Officer ignored. Held: As property registered with area of 783.4 sq ft, assessee cannot claim different area. Stamp duty value of Rs. 2,00,17,500 exceeds consideration of Rs. 1.70 crores, hence difference treated as income u/s 56(2)(vii). No infirmity in CIT(A)'s order, appeal dismissed. Stamp duty value considered full value of consideration for Section 56(2)(vii) purposes.
Immovable property purchased, stamp duty value higher than consideration paid. Assessee's request to refer matter to Valuation Officer ignored. Held: As property registered with area of 783.4 sq ft, assessee cannot claim different area. Stamp duty value of Rs. 2,00,17,500 exceeds consideration of Rs. 1.70 crores, hence difference treated as income u/s 56(2)(vii). No infirmity in CIT(A)'s order, appeal dismissed. Stamp duty value considered full value of consideration for Section 56(2)(vii) purposes.
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