Dispute abt valuation of property

372 views 2 replies

dear  all friends,pl help to solve my query,
a open land purchased actually vide Rs.1,30,000 by regi.deed & stamp duty has been paid their on. at that time jantri value on that property was RS.192700.so balance stamp duty also paid as per order of stamp duty registrar as per janti value.

The case is selected for scrutiny and
ITO wants to addition of balance amount Rs.62700 as unaccounted income.by which section of incometax it's can be made?

how much it is right? when actually consider value of transaction is Rs.130000.
 

Replies (2)

I want ask that on which amt. you have paid the tax?

plz refer sec 50c of IT ACT.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register