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In absence of malfide or false claim AO not justified in taking hyper technical view
Case Law Details
- Case Name
- Shri Ashutosh Jha (HUF) Vs. ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Kolkata
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Shri Ashutosh Jha (HUF) Vs. ITO (ITAT Kolkata)
The claim of the assessee has been that the assessee had purchased the property at a lower rate as per the value mentioned in the agreement to purchase dated 19-07-2012. However, the Ld. AO has adopted the stamp duty value as on date of sale i.e. 28-05-2013.
The Ld.AO rejected the contention of the assessee that part payment was made at the time of execution of the agreement to purchase i.e. 19-07-2012 through banking channel on the ground that the said cheque was issued on 20-07-2012 whereas, the date of agreement was 19-07-2012....
