Duty Authority is
₹ 1,94,40,006. Therefore, provision of section 50C / 43CA / 56(2)(vii) of the
Act is attracted in this case ... assessee to show cause as to why
the provisions of section 43CA of the Act be not applied and the amount
above show cause notice assessee has
submitted that the section 43CA came into effect from 01.04.2013 and it
is applicable for flats sold and documents ... already
allotted to the parties prior to 01.04.2013. Therefore, provisions of section
43CA is not applicable and it has given a detailed submissions in this
made by the Assessing Officer
by invoking provisions u/s.43CA of the Income Tax Act, 1961."
2. Succinctly stated, the assessee company which ... Stamp Valuation authority and would trigger the provisions of Section 43CA of
the Act. Accordingly, the A.O on the basis of his aforesaid deliberations
Finance Act, 2018 , the first proviso to Section 43CA(1) was
inserted, and this proviso provided that "where the value adopted or
assessed ... stamp duty valuation does not exceed
10%, the fiction of Section 43CA(1) will not come into play, and,
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ITA.NO. 3148
above the full value of consideration received, so provision of
section 43CA were not applicable to the facts and circumstances of the case.
3. Briefly ... properties were sold below the market value ;
the provision of section 43CA of the Act is applicable in this case.
Observing that section 43CA clearly
assessee has not computed
income on TDRs under the provisions of section 43CA of the
2
ITA No. 279/NAG/2025
(Khare and Tarkunde
Infrastructure ... assessee. In response thereto, assessee stated
that provisions of section 43CA are not applicable in the case
of transfer of any intangible assets like
stock in trade and considered for provision of Section 43CA . Thus it is held
that the assessee has wrongly offered the income as capital gain ... crystal clear that the provision of the subsection (1) of the section
43CA is squarely applicable in this case to the amount
stock in trade and considered for provision of Section 43CA . Thus it is held
that the assessee has wrongly offered the income as capital gain ... crystal clear that the provision of the subsection (1) of the section
43CA is squarely applicable in this case to the amount
Stamp Valuation Authority which is
covered under the provisions of Section 43CA of the Act and
accordingly an addition ... made by the AO by
invoking Section 43CA.
2. Whether on the facts and circumstances of the case
four shops is required to be determined with
the help of Section 43CA of the Income Tax Act, 1961.
3. The brief facts are that ... year 2014-15. The ld. AO has confronted the
assessee qua Section 43CA . The stand of the AO was that
Section 43CA is equivalent
