is section 69b of income tax can applicable for capital assets?
3 Replies
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 31 August 2013
yes, i think so because the term valuable articles include capital assets also.....
CA Deepika Jain
(Working on Assignment Basis)
(34 Points)
Replied 03 September 2013
Dear Pankaj,
Section 69B is for all the assets.
So it doesn't makes any difference whether it is capital or any other asset.
This section is apply by A.O.
Regards
Deepika Jain
Chartered Accountant
CA Deepika Jain
(Working on Assignment Basis)
(34 Points)
Replied 03 September 2013
Dear Pankaj,
Section 69B is for all the assets.
So it doesn't makes any difference whether it is capital or any other asset because it about undervaluation of assets.
This section is apply by A.O.
Regards
Deepika Jain
Chartered Accountant
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