Commissioner of Income Tax (A) has erred in invoking provisions of
section 43CA(3) of Income Tax Act 1961 and confirming addition to the
extent ... relevant to assessment year 2012-13, whereas the provisions of
section 43CA came into force w. e. f. 01.04.2013 relevant to
assessment year
Commissioner of Income Tax (A) has erred in invoking provisions of
section 43CA(3) of Income Tax Act 1961 and confirming addition to the
extent ... relevant to assessment year 2012-13, whereas the provisions of
section 43CA came into force w. e. f. 01.04.2013 relevant to
assessment year
erred in giving the assessee the benefit of section 43CA(3) of the
I.T. Act."
4. The Grounds of appeal raised ... erred in sustaining the addition made by the Id
ASSESSEE u/s 43CA , to the extent of Rs.23,23,048/- (as per the
details
facts and circumstances, the examination
of issue w.r.t Sec. 43CA and consequential addition of
Rs.9,08,59,835/- is beyond the scope ... sustaining addition of Rs.9,08,59,835/- u/s.43CA of the I.T.
Act.
2.1 That the provisions of Sec.43CA
Therefore, for the purposes of
Sec. 50C and 43CA the assessable value is Rs.925 Crs.
5.1 Further, M/s DHDL has disclosed this transaction ... offered to tax by M/s DHDL u/s 43CA which includes the
amount of Rs. 462.50 Crs related to the assessee company
Therefore, for the purposes of
Sec. 50C and 43CA the assessable value is Rs.925 Crs.
5.1 Further, M/s DHDL has disclosed this transaction ... offered to tax by M/s DHDL u/s 43CA which includes the
amount of Rs. 462.50 Crs related to the assessee company
should
not be added to the income of the assessee u/s 43CA of the act. In
response the assessee submitted as under ... difference should
not be treated as other sources of income u/s 43CA of the Income Tax Act.
In this connection it is submitted that
income of the appellant u/s 43CA of the Income Tax
Act, 1961 without referring the matter to the departmental valuation
officer without considering ... again show caused why the
sale value be not taken under section 43CA at Rs. 13,41,36,000/-.
3.3 The Ld. AO disallowed
facts in
reversing Assessing Officer's action making section 43CA addition
of Rs.42,74,86,285/- representing the difference between actual
lease price ... property subleased / sold by
the appellant after invoking the provisions of section 43CA of the Act.
On the other hand, the appellant has stated that
demanded
by the assessee and as per the provision of section 43CA read with section 50C of
the Act."
ITA No.1311/Del/2018 ... this regard, it will be relevant to reproduce the provisions of
section 43CA of the Act as under:
"43CA. Special provision for full value
