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Section 50C- ITAT deletes addition of 8% difference in Value
Case Law Details
- Case Name
- Shri B.S. Sanjay [HUF] Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Bangalore
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Shri B.S. Sanjay [HUF] Vs ITO (ITAT Bangalore)
In the present case, the sale consideration as per sale deed is Rs. 59.40 Lakhs and the value adopted by DVO u/s. 50C (2) is Rs. 64,10,400/- and therefore, the difference between these two values is of Rs. 4,70,400/- which is less about 8% of the sale consideration shown by the assessee. Respectfully following the Tribunal order cited by ld. AR of assessee having been rendered in the case of M/s. John Fowler (India) Pvt. Ltd. Vs. DCIT (supra) and also other two Tribunal orders followed by the Tribunal in that case being Tribunal order rendered in ...
