Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
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Section 43CA(3) permits adoption of the stamp duty value on the agreement date where the agreement and registration dates differ, provided consideration or part thereof was received through prescribed banking or electronic modes on or before the agreement date. The Tribunal found the assessee's documents, including allotment letters, registered sale agreements, possession letters, completion-related records and financial statements, had not been properly examined, and held that the 10% safe harbour claim also required verification. The sustained addition was therefore set aside and the matter remanded to the AO for fresh adjudication after examining the evidence and giving the assessee an opportunity of hearing.
Section 43CA(3) permits adoption of the stamp duty value on the agreement date where the agreement and registration dates differ, provided consideration or part thereof was received through prescribed banking or electronic modes on or before the agreement date. The Tribunal found the assessee's documents, including allotment letters, registered sale agreements, possession letters, completion-related records and financial statements, had not been properly examined, and held that the 10% safe harbour claim also required verification. The sustained addition was therefore set aside and the matter remanded to the AO for fresh adjudication after examining the evidence and giving the assessee an opportunity of hearing.
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