Notice for reassessment
This query is : Resolved
17 November 2015
I have got notice for reassessment u/s 147 and region record for this notice i have invested Rs. 1 Crore for land purchase while it is only for stamp duty not for sale actual price for land is Rs. 18.75 Lacs which is paid by cheque and clearly written in registry.
So I think this notice is invalid
So I think this notice is invalid
17 November 2015
This notice is valid and you are liable to pay tax on the difference amount treating it as gift.
17 November 2015
this case for A.Y. 2008-09, Sec 56 is not applicable
17 November 2015
Then no tax payable but reply to the notice.
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