This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Confirming Party Cannot Be Taxed on Entire Sale Consideration-ITAT Deletes ₹3.27 Crore Addition
Case Law Details
- Case Name
- Mahadevbhai K. Bharwad Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Mahadevbhai K. Bharwad Vs ITO (ITAT Ahmedabad)
Confirming Party Cannot Be Taxed on Entire Sale Consideration-ITAT Deletes ₹3.27 Crore Addition
The Ahmedabad ITAT deleted an addition of ₹3.27 crore made on account of an immovable property transaction, holding that the assessee could not be taxed on the entire sale consideration merely because the transaction appeared in the Department’s information system. The Tribunal found that the assessee was only a confirming party to the registered sale deed and not the owner or co-owner of the property.
The Assessing Officer had reopened the assess...
Author Info
