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DVO Report of Co-Owner must be considered before Assessment U/s 50C: ITAT Ahmedabad
Case Law Details
- Case Name
- Niket Ravibhai Patel Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Ahmedabad
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Niket Ravibhai Patel Vs DCIT (ITAT Ahmedabad)
Assessee is an individual filed his Return of Income for AY 2013-14 at Rs.10,98,540/-. During the year consideration, assessee along with other co-owners sold two immovable properties for a consideration of Rs.1,20,60,000/- and Rs.1,85,40,000/-. Assessee’s share in both the properties is 5%, accordingly the assessee shown his share as Rs.6,03,000/- and Rs.9,27,000/- on sale of the immovable properties in his Return of Income. AO found that the stamp duty value of the above-mentioned properties were Rs.3,34,40,600/- and Rs.5,14,7...
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