Income Tax : In the assessment proceedings, the Assessee submitted before the Assessing Officer (hereinafter referred to as the AO) that an amo...
Income Tax : An Assessee cannot be compelled with the quantum of additions as admitted during the course of assessment proceedings if the said ...
In the assessment proceedings, the Assessee submitted before the Assessing Officer (hereinafter referred to as the AO) that an amount of Rs. 14,50,000/- received on surrender of transferable development rights (TDR) from the builder through the co-operative society was wrongly declared as income from capital gains as the same was exempt in the hands of the Assessee.
An Assessee cannot be compelled with the quantum of additions as admitted during the course of assessment proceedings if the said additions were not offered to tax in the return of income.
