This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 56(2)(x)(b) Addition Deleted Following ITAT’s Decision in Co-owner’s Case
Case Law Details
- Case Name
- Arvindkumar Jagjivandas Thakkar Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Arvindkumar Jagjivandas Thakkar Vs ITO (ITAT Ahmedabad)
Income Tax Appellate Tribunal (ITAT) Ahmedabad, in the case of Arvindkumar Jagjivandas Thakkar Vs ITO, addressed an appeal challenging an order by the Commissioner of Income Tax (Appeals) [CIT(A)] that upheld an addition of Rs. 11,61,850/- under Section 56(2)(x)(b) of the Income Tax Act, 1961. This addition stemmed from the purchase of a parcel of land by the assessee and co-owners for a total consideration of Rs. 2,01,00,000/-. The stamp duty value of the land was assessed at Rs. 3,32,00,000/-. Due to the stamp duty value exceeding the a...
