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Section 43CA Relief for Marginal Variations: ITAT Mumbai Applies 10% Tolerance Retrospectively and Orders DVO Reference
Case Law Details
- Case Name
- Harish Hari Gandhi Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
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Harish Hari Gandhi Vs ACIT (ITAT Mumbai)
Section 43CA Relief for Marginal Variations: ITAT Mumbai Applies 10% Tolerance Retrospectively and Orders DVO Reference
The Mumbai Bench “E” of the ITAT partly allowed the appeal of Harish Hari Gandhi (AY 2017-18) and granted substantial relief from additions made under section 43CA on sale of flats by a real-estate developer.
The Assessing Officer had made an addition of ₹18.57 lakh on the ground that the agreement value of three flats (Nos. 705, 502 and B-703) was lower than the stamp-duty value. The CIT(A) confirmed the addition by holding that...
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