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Joint Property Purchase: Stamp Duty Difference Cannot Be Taxed Fully in One Buyer’s Hands
Case Law Details
- Case Name
- Sukkaran Kalaiselvi Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Chennai
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Sukkaran Kalaiselvi Vs ITO (ITAT Chennai)
Equal Owners, Equal Tax – Stamp Duty Difference to Be Shared Equally in case of joint purchase- Stamp Duty Difference Cannot Be Taxed Fully in One Buyer’s Hands – ITAT Chennai Restricts Addition to ¼ Share
Chennai ITAT partly allowed the appeal by holding that addition on account of difference between guideline value & registered sale consideration cannot be taxed entirely in one co-owner’s hands, but only to the extent of her share.
Assessee, deriving income from milk vending, purchased property jointly with her husband, son & a...
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