Case Law Details
Case Name : Heilgers Development & Construction Co. (P.) Ltd. Vs Deputy Commissioner of lncomc-tax, Central Circle-II, Kolkata (ITAT Kolkata)
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Kolkata
ITAT KOLKATA BENCH ‘B’
Heilgers Development & Construction Co. (P.) Ltd.
versus
Deputy Commissioner of lncomc-tax, Central Circle-II, Kolkata
IT Appeal No. 1681( Kol.) of 2011
[ASSESSMENT YEAR 2008-09]
Date of Pronouncement- 22.02.2013
ORDER
Pramod Kumar, Accountant Member 3
By way of this appeal, the assessee has challenged correctness of learned Commissioner of Income Tax (Appeals)’s order dated 25th January, 2011, in the matter of assessment under section 143(3) of the Income-tax Act, 1961, for the assessment year 2008-09,on the following grounds :
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The said anomaly of tolerance limit has been corrected in Section 50C vide Finance Bill 2013. Now the value as ascertained by the Stamp Value Authority on the date of agreement shall be the value as per Section 50C.