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
holding
that the provision of section 43CA of the I.T. Act, 1961 are
wrongly invoked by the assessing officer, without appreciating
the fact that ... added to the total income as per the provisions of Section 43CA
of the I.T. Act, 1961.
2. Whether on facts and circumstances
erred in confirming the addition of Rs. 10,72,932/- u/s 43CA of
the Income Tax Act, 1961 without considering the reply ... assessee has violated the
provisions of section 43CA of the Act as sale deed was made on
less value from DLC value so adopted
chart, it is
prima facie evident that the assessee has violated Section 43CA of the
Act which has been inserted ... year. Moreover his reply on the issue of violation of
section 43CA is not accompanied with any supporting evidences.
However, in view of the detailed
learned CIT(A) has not taken into consideration that section 43CA is not
overridden by section 47 and hence the transfer under the nomenclature ... been transferred. The AO, while doing so has invoked
provisions of Sec.43CA of the Act, to adopt Fair Market Value of the land
flats were agreed to be sold by invoking the
provision of Section 43CA, and as such the same being bad in law, the same should ... flats were agreed to be sold by invoking the provisions of Section 43CA
should be deleted.
2. Addition of Rs. 15,12,847/-on account
additions made by the Learned AO under the provisions of section
43CA without considering
1.1 the fact that the impugned shops were agreed ... which was prior to introduction
of the provisions of section 43CA of the Act which was applicable w.e.f.
01.04.2013, and therefore, the provisions
justified in confirming the addition made u/s 43CA of the Act
in the sum of Rs 30,75,000/- in the facts and circumstances ... determination of fair market value in
accordance with provisions of section 43CA(2) of the Act. The ld. DVO
vide his report dated 26.12.2017 determined
transfer" so as to attract
the provisions of section 43CA of the Income Tax Act, 1961.
3. That, on the facts ... assessee,
however he had failed to apply the provision of section 43CA of the Act which deals
with special provision for full value of consideration
considered this issue
and also considered the issue of provisions of section 43CA , 50C and
56 of the Act and held as under:-
The Honourable ... provisions of The Finance Act 2018 as under :
16. Rationalization of section 43CA, section SOC and section 56
16 .1 Before amendment
