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Section 14 in The Finance Act, 2018 14. Amendment of section 43CA. - In section 43CA of the Income-tax Act, with effect from

Finance Act, 2018 15. Insertion of new section. - After section 43CA of the Income-tax Act, the following section shall be inserted and shall

addition of Rs. 20,38,324/- while invoking the provisions of section 43CA of the Act. 2. Briefly stated, the facts of the case ... time of booking and as such the provision of section 43CA are not applicable on it. The Assessing Officer, on perusal of the registered documents

sold below the market value/stamp duty valuation except submitting that section 43CA is applicable from 01.04.2014 and therefore, not applicable ... Jainam Constructions evidence and to substantiate the claim contended that section 43CA had been inserted from 01.04.2014, therefore, the provision is not applicable

been used in the provisions of section 50C and section 43CA of the Act, had there been any intention on their part ... immovable property covers only Individual or HUF, whereas provisions of section 50C / 43CA applicable to the transferor of the property cover all the assessee

presumed that the AO applied th e pro visions of section 43CA of the Act wh ich came into effect only from ... stamp duty could be made only as per the provisions of section 43CA of the Act and not section 50C. However, the provisions of section

trade. This view is further strengthened by the fact that section 43CA has been introduced into the Act w.e.f. 1st April, 2014 which ... than capital assets on the basis of stamp duty valuation. This section 43CA of the Act finds a place as a part of Chapter

price cannot be substituted by the circle rate as provisions of section 43CA came into effect were introduced by Finance Act, 2013 is with effect ... circle rate. He submitted that at nowhere the provision of section 43CA has been invoked and, therefore, the learned authorized representative has incorrectly assumed such

forward exchange contracts; (iv) foreign currency translation reserves.". 14. Amendment of section 43CA. - In section 43CA of the Income-tax Act, with effect from ... bank account" shall be substituted. 15. Insertion of new section. - After section 43CA of the Income-tax Act, the following section shall be inserted

this regard he drew attention to certain statutory provisions. (i) Sec.43CA(1) Where the consideration received or accruing as a result of the transfer