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Documents citing Akari Enterprises Llc Having Its Office ... vs Genesis Luxury Fashion Private ... on 16 August, 2016

Spenta Enterprises, Mumbai vs Acit 17(3), Mumbai on 27 January, 2022

9. Upon assessee's appeal, Ld.CIT(A) has held that he was of the opinion that invariably the stamp value date on registration has to be adopted and hence, hewas upholding the order of the AO. I find that this is quiet contrary to what the AO has held. AO has clearly accepted the assessee's contentions that he is in agreement that ready recokner value on the date of allotment is being considered. Hence, the reason for Ld.CIT(A) in upholding the addition is not as per the facts on record. In any case, I note that this is assessees plea that section 43CA was introduced w.e.f. 01.04.2013 and the agreement under consideration were entered into prior to 31.03.2013. Further, this is assessees plea that difference is only 5% between the ready recokner rate and sale consideration. Hence, this is assessees plea that the same has to be ignored on the touchstone of ITAT, Mumbai decision in the case of Krishna Enterprises vs 5 IT A N o. 2 1 3 3 /M / 2 0 1 9 ACIT. I am of the considered opinion that the asessees succeeds on both the counts. Hence, I set aside the orders of the authorities below and decide the issue in favour of the assessee.
Income Tax Appellate Tribunal - Mumbai Cites 3 - Cited by 0 - Full Document
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