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section 43CA

Latest Articles


Section 50C & 43CA: Full Value of Consideration in Immovable Property Sales

Income Tax : Section 50C: For property sales, if the sale price is lower than the value assessed by Stamp Valuation Authority, that value is co...

September 12, 2024 9765 Views 0 comment Print

Income Tax Provisions applicable to business entities

Income Tax : Explore provisions under the Income-tax Act for computing business income, including various chargeable incomes and accounting met...

September 2, 2024 876 Views 0 comment Print

Tax Implication on Sale & Purchase of Immovable Property for Seller & Buyer

Income Tax : Learn about tax implications for sellers and buyers of immovable property. Understand capital gains, stamp duty, tax withholding, ...

September 1, 2023 44574 Views 7 comments Print

Analysis of Section 50C & 43CA: Tax Implications for Immovable Property

Income Tax : Understand how Sec 50C & 43CA of Income Tax Act affect taxation of immovable property sales. Learn about capital gains, business i...

August 12, 2023 17571 Views 0 comment Print

Double Taxation on Sale of unquoted shares in India

Income Tax : Understanding double taxation on the sale of unquoted shares in India. Learn about the implications and requirements under the Inc...

July 5, 2022 1965 Views 0 comment Print


Latest News


Representation to FM to Widen Scope of Benefit of 20% for flats

Income Tax : Representation for widening the scope of benefit in case of difference in agreement price and Circle Rate of property is upto 20 p...

November 14, 2020 14823 Views 3 comments Print

6 Suggestions for Amendments in Income Tax Act by BCAS

Income Tax : Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May...

May 28, 2019 8076 Views 2 comments Print


Latest Judiciary


Advance collected towards External Development Charges cannot form part of P&L: ITAT Delhi

Income Tax : ITAT Delhi held that External Development Charges (EDC) is an advance collected to provide common facilities and other services to...

September 16, 2024 168 Views 0 comment Print

Bona fide error cannot be basis of imposition of penalty u/s. 270A: ITAT Delhi

Income Tax : ITAT Delhi held that bona fide error cannot be basis of imposition of penalty and hence imposition of penalty under section 270A o...

September 9, 2024 486 Views 0 comment Print

Normal period will apply for reopening of assessment where escapement of income is below 50 Lakhs

Income Tax : ITAT Mumbai held that normal period of limitation i.e. 3 years will apply in case of reopening of assessment where escapement of i...

August 31, 2024 729 Views 0 comment Print

Finalized Assessment Cannot Be Reopened for Property Deed Re-registration

Income Tax : Once an assessment has been finalized for a particular year, reassessment cannot be justified merely due to subsequent procedural ...

July 16, 2024 534 Views 0 comment Print

TPO fails to Apply Industry Filter while Determining ALP of Interest: ITAT Deletes addition

Income Tax : ITAT Delhi dismisses DCIT's appeal against DLF Urban Pvt. Ltd. TPO failed to apply industry filter for ALP of interest, resulting ...

May 31, 2024 375 Views 0 comment Print


Latest Notifications


Income Tax relief for Real-estate Developers and Home Buyers

Income Tax : In order to boost demand in the real-estate sector and to enable the real-estate developers to liquidate their unsold inventory at...

November 13, 2020 5148 Views 1 comment Print

CBDT notifies more modes of e-payments; 6DD limit reduced to ₹ 10000

Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...

January 29, 2020 13170 Views 0 comment Print


Latest Posts in section 43CA

Advance collected towards External Development Charges cannot form part of P&L: ITAT Delhi

September 16, 2024 168 Views 0 comment Print

ITAT Delhi held that External Development Charges (EDC) is an advance collected to provide common facilities and other services to the prospective flat owners. Since, the same is collected on approval of HUDA, it cannot form part of Profit and Loss Account. Accordingly, addition towards the same rightly deleted.

Section 50C & 43CA: Full Value of Consideration in Immovable Property Sales

September 12, 2024 9765 Views 0 comment Print

Section 50C: For property sales, if the sale price is lower than the value assessed by Stamp Valuation Authority, that value is considered full consideration for tax.

Bona fide error cannot be basis of imposition of penalty u/s. 270A: ITAT Delhi

September 9, 2024 486 Views 0 comment Print

ITAT Delhi held that bona fide error cannot be basis of imposition of penalty and hence imposition of penalty under section 270A of the Income Tax Act rightly deleted by First Appellate Authority.

Income Tax Provisions applicable to business entities

September 2, 2024 876 Views 0 comment Print

Explore provisions under the Income-tax Act for computing business income, including various chargeable incomes and accounting methods.

Normal period will apply for reopening of assessment where escapement of income is below 50 Lakhs

August 31, 2024 729 Views 0 comment Print

ITAT Mumbai held that normal period of limitation i.e. 3 years will apply in case of reopening of assessment where escapement of income was below Rs. 50 Lakhs and extended period of 10 years will apply only in case of concealment of income of Rs. 50 Lakhs or more.

Finalized Assessment Cannot Be Reopened for Property Deed Re-registration

July 16, 2024 534 Views 0 comment Print

Once an assessment has been finalized for a particular year, reassessment cannot be justified merely due to subsequent procedural events like re-registration of property deeds.

TPO fails to Apply Industry Filter while Determining ALP of Interest: ITAT Deletes addition

May 31, 2024 375 Views 0 comment Print

ITAT Delhi dismisses DCIT’s appeal against DLF Urban Pvt. Ltd. TPO failed to apply industry filter for ALP of interest, resulting in the deletion of Rs. 6.29 crores addition.

CIT(A) Cannot Dismiss Appeal for Non-Prosecution & Obliged to Dispose of Appeal on Merits

May 6, 2024 786 Views 0 comment Print

Read about Pahari Mata Sahkari Awas Samiti Ltd. Vs ACIT (ITAT Lucknow). The Commissioner (Appeals) cannot dismiss the appeal for non-prosecution and must decide on merits.

Stamp duty valuation on Allotment letter date should be considered for Section 56(2)(x)

April 11, 2024 2400 Views 0 comment Print

Mumbai ITAT orders stamp duty valuation on allotment letter date for Section 56(2)(x) of Income Tax Act, setting aside CIT(A) order against Assessee.

No Section 56(2)(x)(b)(B)(ii) Addition for Valuation Difference of less than 10%

April 3, 2024 5001 Views 0 comment Print

ITAT Mumbai ruled that no addition is warranted under Sec 56(2)(x)(b)(B)(ii) of Income Tax Act when difference between purchase value and fair market value is less than 10%.

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