22 November 2014
A person has a disputed property whose circle rate is 80 lac but because of its dispute he sold it at 45 lacs only .
now what he can do satisfy the AO So that capital gain is calculated on the 45 lac and not on 80 lac
please suggest.
22 November 2014
No any solution available with ITO as well. He has to go by 50C. See what you can do is go to Sub Registrat and ask for ADJUDICATION. If the sub registrar agrees for 45 lac, then it is a valid reason for ITO to consider the sale consideration value as 45 lac and not 80 lac
CAclubindia
