Transfer pricing comparability: one support-services company accepted, government-owned and facility-management comparables excluded, forex loss claim...
ITAT ruled in favor of assessee regarding additions under s.43CA concerning sale of 12 flats below market value. While market value exceeded agreement value at registration, documentation proved agreement values were compliant with market rates at booking time. ITAT emphasized that mere auditor observations about lower sale values cannot justify additions without considering Act provisions. Since assessee received partial consideration as advance per original agreements and executed sales based on those values despite subsequent market appreciation, no additions were warranted under s.43CA(3) and (4). The significant time gap between booking and registration dates explained the apparent value discrepancy.
ITAT ruled in favor of assessee regarding additions under s.43CA concerning sale of 12 flats below market value. While market value exceeded agreement value at registration, documentation proved agreement values were compliant with market rates at booking time. ITAT emphasized that mere auditor observations about lower sale values cannot justify additions without considering Act provisions. Since assessee received partial consideration as advance per original agreements and executed sales based on those values despite subsequent market appreciation, no additions were warranted under s.43CA(3) and (4). The significant time gap between booking and registration dates explained the apparent value discrepancy.
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