Case Law Details
Case Name : Bharat Keshavlal Shah Vs PCIT (ITAT Pune)
Related Assessment Year : 2014-15
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Bharat Keshavlal Shah Vs PCIT (ITAT Pune)
Lastly comes the issue of section 56(2)(vii) made applicable in assessee’s case on account of alleged difference between stamp valuation and actual purchase consideration qua the sale deed executed in the relevant previous year.
A perusal of the said sale deed dated 31.12.2013, and more particularly, the schedule of payment therein at page-16 indicates that the assessee had already paid an amount of Rs.50,000/- on 20.09.2016 by way of bank cheque which followed the agreement itself dated 05.10.2006. Faced with the situation, we quote 1st and 2nd prov...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Section 56(2)(vii) applies to purchaser of capital asset & Section 50C to Buyer
i think the heading should be
& Section 50C to Transferer/seller and not buyer