TaxTMI 
TaxTMI 
2026 (9) TMI 772
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....EORGE MATHAN, JM: This is an appeal filed by the assessee against the order of the CIT(A), NFAC [hereinafter referred to as the 'CIT(A)'] in appeal no.NFAC/2019-20/10441091 dated 16.02.2026 for the assessment year 2020-21. 2. Shri Raj Kumar, AR appeared on behalf of the assessee and Shri Vijay Singh, Sr. D.R. represented on behalf of the revenue. 3. It was submitted by the ld. AR that the....
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....property had been done after such date during the assessment year 2019-20, the Assessing Officer had invoked the provisions of section 56(2)(x) of the Act and had treated the difference between sale consideration paid by the assessee of Rs. 16,82,600/- and the guideline rate of Rs. 54,46,900/- as the income of the assessee. It was submitted by the ld. AR that as the agreement had been entered into....
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....de by the Assessing Officer and confirmed by the ld. CIT(A) is liable to be deleted. 4. In reply, the ld. Sr. DR submitted that the Assessing Officer has considered this issue in his assessment order. It was the submission that the absolute sale deed is on 29.11.2019 and the sale consideration as on the date of the absolute sale deed was Rs. 54,46,900/-, the difference between sale consideratio....