Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
In an ITAT decision on section 50C, the Tribunal held that where agricultural land was sold under a single arrangement and the entire consideration was received by cheque at the time of the agreement to sell, the stamp duty value on the later registration dates could not be treated as the full value of consideration. It accepted the assessee's evidence of the December 2007 agreement and related valuation material, and treated the curative amendment to section 50C as retrospective. The relevant stamp valuation was therefore the value prevailing on the agreement date, and the addition made under section 50C was deleted.
In an ITAT decision on section 50C, the Tribunal held that where agricultural land was sold under a single arrangement and the entire consideration was received by cheque at the time of the agreement to sell, the stamp duty value on the later registration dates could not be treated as the full value of consideration. It accepted the assessee's evidence of the December 2007 agreement and related valuation material, and treated the curative amendment to section 50C as retrospective. The relevant stamp valuation was therefore the value prevailing on the agreement date, and the addition made under section 50C was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
