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119(2)(b) reply from pr ccit

Ravi (Ca articleship) (335 Points)

14 September 2018

hey friends I wrote letter to pr ccit regarding filling of ay 15-16 return I received this text message in grivence letter.
(I am directed to forward herewith a copy of the petition dated 24.08.2018 filed by Sn Santosh Kumar Patna1k, (PAN: AXCPP9499H) on the captioned subject for kind Information and necessary action
In this regard, I am also directed to request you to kindly do the needful in the
matter as per I T Act, and send an action taken report after Redressal of grievance.

please tell me what can I do now
thank you.

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1 Replies

nagaraj kadlaskar (79 Points)
Replied 14 September 2018

Agriculture land situated 5 kms away from corporation limit and slightly away from village panchayat limits. While purchasing in the year 2014, the Sub Registrar has given guideline rate of RS.36 L per acre. Accordingly, buyer has agreed and paid stamp duty on 36 L for an acre. Where as the sale deed is registered at Rs.6L per acre. The I.T. Dept. has issued notice to the buyer because the amount is Rs 40 L for the land. The seller has applied to the Dist. Register for revaluation and guidance value. Dist. Registrar has given the value at Rs.32 L. The real rate for the land is much less at Rs 6L per acre as per the SR for the land in the same area. What is the position of the buyer. What is the position of seller who has received amount of Rs.40L if he too receive notice from I.T.dept