Case Law Details
Case Name : ACIT Vs Sunland Metal Recycling (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
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CA Prarthana Jalan
The brief facts relevant to the levy of penalty are that the assessee had transferred / sold office premises to its sister concern for a sale consideration of Rs. 1.55 crores. The Assessing Officer considered the full sale consideration as per stamp duty authority valuation at Rs. 2,00,08,000/- in accordance with the provisions of section 50C of Income Tax Act. Accordingly, the Assessing Officer made an addition
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