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ITAT Deletes Addition Because Stamp Duty Value Ignored Illegal Construction
Case Law Details
- Case Name
- Shadaksharaswamy Doddagangavadi Veeraiah Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Bangalore
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Shadaksharaswamy Doddagangavadi Veeraiah Vs ITO (ITAT Bangalore)
Bangalore ITAT Deletes Entire Addition on Flat Purchase- Arbitrary 1/5th Estimate Rejected, BBMP Demolition Notice Explains Lower Purchase Value
The Bangalore ITAT deleted the entire addition made against a Karnataka Police Head Constable in a reassessment case arising out of purchase of a residential flat for ₹42 lakh as against a stamp duty value of ₹55.81 lakh. The Tribunal held that the CIT(A)’s action of sustaining 1/5th of the alleged unexplained investment purely on estimate basis was arbitrary and w...
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