Case Law Details
Case Name : CIT Vs Padmavathi (Madras High Court)
Related Assessment Year : 2014-2015
Courts :
All High Courts Madras High Court
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CIT Vs Padmavathi (Madras High Court)
The case of CIT Vs Padmavathi, heard in the Madras High Court, revolves around Section 263 of the Income Tax Act, limited scrutiny assessments, and property valuation disputes. The primary issue in question is whether the Assessing Officer can invoke Section 263 when guideline values exceed the sale consideration in a conveyance deed. This article delves into the case, analyzes the arguments, and examines the court’s decision.
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