appreciate that sub- section 1 of section 43CA is in parameteria with
sec. 50(C)(1) of the Act except that sec.43CA(1) applies ... applies with full force to sec.43CA of the Act which is the fact
in the instant case.
1.iii. The Ld. CIT(A) further
action of
the ld CITA in confirming the addition made u/s 43CA ... otherwise.
5.4. The ld AO applied the provisions of section 43CA of the Act in all the
14 properties registered inspite of the fact that
office sold as per sale deed by Sub-Registrar DVO 43CA
(1) (2) (3) (4) (5)=(4)-(2)
Office ... value adopted by the sub-registrar and therefore, in
terms of section 43CA(2) r.w.s. 50C(3), the Land area and value
adopted
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
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
income is assessable
a capital gains, the question of invoking Section
43CA does not arise.
Appellant prays that the order ... reason that the Assessing Officer had not considered the
impact of section 43CA of the I.T.Act. The CIT was of the view
that
According to the Assessing Officer the provisions of
section 43CA of the Act is applicable to the facts and circumstances of the
case ... Valuation Authority. The
assessee was asked to explain why provision u/s. 43CA should not be
made applicable. According to Assessing Officer, the assessee filed
straight forward made an addition of Rs. 11,12,848/-
u/s 43CA. No opportunity was granted to the assessee for
putting the defense. Further ... Officer has
also not followed the statutory procedure laid down u/s 43CA of
the Act. Our attention was invited to the letter dated
quantum assessment
order. Although the assessee submitted that the provisions of Section 43CA
were not applicable for year under consideration, however, Ld. AO noted
that ... sales have been made after 01/04/2014, the provisions of sec 43CA
would not apply to the appellant. The case of the appellant therefore
made by the
Assessing Officer by invoking the provisions of section 43CA
of the Income-tax Act, 1961 (hereinafter called ... accordingly with such agreed
values. The AO invoked the provisions of section 43CA of the
Act, introduced by the Finance
