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Case Law Details

Case Name : Shri Paramjeet Singh Chhabra Vs Income Tax Officer 1(2) (ITAT Indore)
Related Assessment Year : 2005- 06
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The facts, in brief, are that during the year the assessee sold a shop for Rs.18 lacs on 17.1.2005 and declared sale price while working out the capital gain and investment in construction of a residential house.

The Assessing Officer, from the copy of registry, found that the market value  considered by the Sub-Registrar is Rs. 26,97,000/-. The Assessing Officer opined that there is a difference of Rs.8,97,000/- between the market value and the amount declared by the assessee for working out the capital gain.

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