addition of Rs.5,74,924/-
by invoking provisions of section 43CA of the Income Tax Act, 1961 by
rejecting appellant's submission ... addition of Rs.5,74,924/-
by invoking provisions of section 43CA of the Income Tax Act, 1961
(hereinafter referred
less than
10% and therefore, not required to be added.
3. Section 43CA of the Act provides that where a consideration received or
accruing ... fresh adjudication .
4. We observe from plain reading of sec. 43CA that it provides in a case
where consideration received or accruing as a result
against the
confirmation of disallowance of Rs.9,18,700/- u/s.43CA of the
Income-tax Act, 1961 (hereinafter also called ... value. The assessee furnished
such an information. Invoking the provisions of section 43CA of
the Act in respect of one transaction where the difference
Officer has not inquired into the applicability of the provisions of
section 43CA of the Act and addition of interest cost ... market value adopted for
stamp duty purposes, the provisions of section 43CA of the Act are squarely
applicable in the case of the assessee. Further
Officer has not inquired into the applicability of the provisions of
section 43CA of the Act and addition of interest cost ... market value adopted for
stamp duty purposes, the provisions of section 43CA of the Act are squarely
applicable in the case of the assessee. Further
forming stock in trade. The assessee had
violated the provisions of section 43CA of the Act in below mentioned instances-
S.No. Flat No. Name ... assessee
does not hold good as the provisions of section 43CA of the Act are clearly defined
in the Income Tax Act . The Assessing Officer
therefore
according to Ld. PCIT, Central, Pune the provisions of section
43CA of the IT Act were clearly attracted in this case. However,
according ... consider this aspect and without examining this issue of
applicability of section 43CA of the IT Act completed the
assessment proceedings without treating the above
made by the Assessing Officer u/s 43CA of the Act.
4. Facts of the case, in brief, are that the assessee is a company ... given by the assessee, the Assessing Officer, invoking the
provisions of section 43CA of the Act made addition of Rs.25,02,250/-, the details
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
