Case Law Details
Case Name : The ACIT Vs. Sh. Mohinder Singh (ITAT Chandigarh)
Appeal Number : ITA No. 665/Chd/2016
Date of Judgement/Order : 18/01/2018
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Chandigarh
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ACIT Vs. Sh. Mohinder Singh (ITAT Chandigarh)
Nature of receipt of income over and above the registered sale consideration in the hands of seller
The nature of receipt of the income over and above the registered sale consideration in the hands of seller would not fall under the head ‘Capital Gains’ but ‘income from other sources’. Therefore, the amount received by seller over and above the sale consideration mentioned in the registered document, was ordered to be assessed as income from other sources.
Understated Sale Value of Agricultural Land to avoid payment of Stamp Duty taxable
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