2019 (2) TMI 1916

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.... 5,74,924/- by invoking provisions of section 43CA of the Income Tax Act, 1961 by rejecting appellant's submission in this regard. Appellant prays for deletion of entire addition. The appellant craves for to leave, add, alter, modify, delete about ground of appeal before or at the time of hearing, in the interest of natural justice." 2. The solitary grievance of the assessee is the addition of Rs. 5,74,924/- by invoking provisions of section 43CA of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') on account of difference between stamp duty valuation and actual consideration. 3. The brief facts in this case are that the assessee is a partnership firm carrying on business of Builders, Promoters and Developers since 20....

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....ontended by the Ld.AR that in these cases, there was difference between stamp duty valuation adopted by the Government & the actual consideration received. It was held that, if the difference is less than 10% then stamp duty/market value, the difference shall not be considered for the purpose of section 50C of the Act. Since Section 43CA is having identical situation as referred to in Section 50C therefore, decisions of the above cases shall apply also and covered by section 43CA of the Act. 6. The Ld. DR has placed reliance on the orders of the Sub-ordinate Authorities. 7. We have perused the case records and considered the relevant provisions of the Act i.e. Section 50C and Section 43CA. Section 50C deals with special provision for ....