Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
ITAT held that the DVO valuation obtained in a co-owner's case applied equally to the assessee in respect of the same jointly purchased flats. It also treated the Finance Act, 2020 amendment increasing the tolerance band under section 56(2)(x)(b) from 5 per cent to 10 per cent as clarificatory and curative, with retrospective effect. As the difference between the DVO value and the agreed consideration was within that 10 per cent band, no addition was sustainable and the addition under section 56(2)(x)(b) was deleted.
ITAT held that the DVO valuation obtained in a co-owner's case applied equally to the assessee in respect of the same jointly purchased flats. It also treated the Finance Act, 2020 amendment increasing the tolerance band under section 56(2)(x)(b) from 5 per cent to 10 per cent as clarificatory and curative, with retrospective effect. As the difference between the DVO value and the agreed consideration was within that 10 per cent band, no addition was sustainable and the addition under section 56(2)(x)(b) was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
