This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No Section 56(2)(x)(b)(B)(ii) Addition for Valuation Difference of less than 10%
Case Law Details
- Case Name
- Glory Shipmanagement Private Limited Vs CIT (Appeals) (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-2019
- Courts
- All ITAT
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Glory Shipmanagement Private Limited Vs CIT (Appeals) (ITAT Mumbai)
Introduction: Glory Shipmanagement Private Limited contested against the order passed by the Commissioner of Income Tax (Appeals), challenging the addition made under Section 56(2)(x) of the Income Tax Act. The disagreement arose over the difference between the purchase value and the fair market value of an acquired property.
Detailed Analysis: The Assessing Officer noted a variance between the purchase value and the fair market value of the property acquired by Glory Shipmanagement Private Limited. Despite the difference bein...
Author Info
