This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
5% Tolerance Limit u/s 56(2)(x) held retrospective: ITAT Chennai
Case Law Details
- Case Name
- SPL Shelters Private Limited Vs DCIT (ITAT Chennai)
- 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 Chennai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
SPL Shelters Private Limited Vs DCIT (ITAT Chennai)
Chennai ITAT delivered an important ruling in the cases of SPL Shelters Pvt. Ltd. & Sriprop Properties Pvt. Ltd. for AY 2018-19 wherein it was held that the tolerance limit of 5% introduced in s.56(2)(x) is curative in nature & applicable retrospectively. Consequently, additions made by AO on account of difference between stamp duty value & purchase consideration were deleted, while the appeals of the Revenue stood dismissed.
Dispute arose pursuant to a search in the case of Shri Ram Prasath Reddy, where documents indicated th...
Author Info
