appeal against addition made Under Sec. 50 C income tax Act
This query is : Open
03 March 2011
The A/O made an addition U/s 50c of income tax Act. amounting to rs. 35 Lakh
on the basis of circle rate as on 3rd april rs. 4400000.00 while circle rates as on 31st march was rs 2200000.00.
on the basis of circle rate as on 3rd april rs. 4400000.00 while circle rates as on 31st march was rs 2200000.00.
05 March 2011
You can very well file an appeal before the CIT (Appeals). The market rate applicable as on the date of registratio is to be considered if the assset sld is not stock in trade. If the sale is completed before 31st March then there is no question of adopting the market rate applicable thereafter. CA Paras Chhajed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
