Mr. A purchased a property from a bank under auction at value of Rs. 50 lakhs but stamp duty paid on stamp value of Rs.1.5 crore.
the difference amount will be added to income?
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tax laibility under sec 56 (2)(x)
Replies (3)
I think case needs to be seperatly assessed with refrence to valuation officer
sir auction is taken under SARFAESI act.
then it is required.
then it is required.
I think in all cases, case will be through valuation officer
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