valuation of purchase price under sec 50c done by valuation
This query is : Resolved
27 February 2009
In one case the aso refered to vo for valuation of land as on 1981 under sec 50c. actually the property is inherited and pruchased by the ass father in 1968 .
Can the aso send the same to vo for purchase price of the property under this sec50c? the vo has taken comparative sale instances of 1981 but the ass had gone by the basis of municipal jantri as in 1981 which is much higher then tehe comperative sales instances. THIS HAS BROUGHT THE LTC FROM LOSS TO PROFIT AND HUGE DEMAND.
Can the aso send the same to vo for purchase price of the property under this sec50c? the vo has taken comparative sale instances of 1981 but the ass had gone by the basis of municipal jantri as in 1981 which is much higher then tehe comperative sales instances. THIS HAS BROUGHT THE LTC FROM LOSS TO PROFIT AND HUGE DEMAND.
CA Nitin Wadhwani
(Expert)
01 March 2009
I think he can go for it.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
