disallowing an amount of Rs. 2,03,051 under
section 43CA of the Act as the difference
between the value adopted by Stamp Duty
Authority ... consideration
received and is therefore covered by the
proviso to section 43CA of the Act.
4.3. On the facts and the circumstances of the
case
facts and in law in setting aside the issue of section 43CA
to the file of the AO without properly appreciating the explanation of
assessee ... record
to prove that there is no violation of provisions of section 43CA by the
appellant
facts and in law in setting aside the issue of section 43CA
to the file of the AO without properly appreciating the explanation of
assessee ... record
to prove that there is no violation of provisions of section 43CA by the
appellant
facts and in law in setting aside the issue of section 43CA
to the file of the AO without properly appreciating the explanation of
assessee ... record
to prove that there is no violation of provisions of section 43CA by the
appellant
facts and in law in setting aside the issue of section 43CA
to the file of the AO without properly appreciating the explanation of
assessee ... record
to prove that there is no violation of provisions of section 43CA by the
appellant
Agreement Value is enclosed (Pg. No.141)
(d) Insertion of new Sec. 43CA w.e.f. 01.04.2014
i) Further, Finance Act 2013 has inserted ... Section 43CA under the
I.T.Act, 1961 applicable from 01.04.2014, introducing the provisions
of taxability of transfer of immovable property (land or building
Assessing Officer, accordingly, applying the provisions of
section 43CA of the Act, calculated the difference between the sale
consideration shown and the stamp duty value ... Assessment year: 2015-16
M/s Reegal Construction
the assessee u/s 43CA of the Act. He also added the amount
above show cause notice assessee has
submitted that the section 43CA came into effect from 01.04.2013 and it
is applicable for flats sold and documents ... already
allotted to the parties prior to 01.04.2013. Therefore, provisions of section
43CA is not applicable and it has given a detailed submissions in this
made by the Assessing Officer
by invoking provisions u/s.43CA of the Income Tax Act, 1961."
2. Succinctly stated, the assessee company which ... Stamp Valuation authority and would trigger the provisions of Section 43CA of
the Act. Accordingly, the A.O on the basis of his aforesaid deliberations
Finance Act, 2018 , the first proviso to Section 43CA(1) was
inserted, and this proviso provided that "where the value adopted or
assessed ... stamp duty valuation does not exceed
10%, the fiction of Section 43CA(1) will not come into play, and,
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