https://www.taxtmi.com/caselaws?id=298358 The Tribunal upheld the addition under Long Term Capital Gain u/s 50C, as the assessee did not dispute the valuation by the Stamp Valuation Officer. The addition on account of deemed dividend u/s 2(22)(e) was deleted as it was deemed part of regular business transactions. The addition of Rs. 2 lakhs as speed money and other expenses was confirmed due to lack of details provided by the assessee. The deletion of Rs. 33,60,000 based on a survey statement was upheld, applying a net profit rate. The appeal for assessment year 2006-07 was partially allowed, while the department's appeals for 2006-07 and 2007-08 were dismissed. en-us Wed, 08 Aug 2012 00:00:00 +0530 Thu, 28 Oct 2021 12:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298358 The Tribunal upheld the addition under Long Term Capital Gain u/s 50C, as the assessee did not dispute the valuation by the Stamp Valuation Officer. The addition on account of deemed dividend u/s 2(22)(e) was deleted as it was deemed part of regular business transactions. The addition of Rs. 2 lakhs as speed money and other expenses was confirmed due to lack of details provided by the assessee. The deletion of Rs. 33,60,000 based on a survey statement was upheld, applying a net profit rate. The appeal for assessment year 2006-07 was partially allowed, while the department's appeals for 2006-07 and 2007-08 were dismissed. Case-Laws Income Tax Wed, 08 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298358