https://www.taxtmi.com/caselaws?id=446668 The Gujarat HC upheld the Tribunal's decision to delete an addition made under Section 153A for unaccounted capital gains from property sale. The Revenue argued that a valuation report constituted incriminating material, but the HC found no infirmity in the appellate authority's order. The court noted the absence of corroborative material supporting the valuation report's conclusions and no allegation that declared consideration exceeded stamp duty valuation under Section 50C. The HC dismissed the Revenue's appeal, finding no substantial question of law arose from the matter. en-us Tue, 05 Dec 2023 00:00:00 +0530 Fri, 08 Dec 2023 08:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446668 The Gujarat HC upheld the Tribunal's decision to delete an addition made under Section 153A for unaccounted capital gains from property sale. The Revenue argued that a valuation report constituted incriminating material, but the HC found no infirmity in the appellate authority's order. The court noted the absence of corroborative material supporting the valuation report's conclusions and no allegation that declared consideration exceeded stamp duty valuation under Section 50C. The HC dismissed the Revenue's appeal, finding no substantial question of law arose from the matter. Case-Laws Income Tax Tue, 05 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446668