Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Understatement <strong>of</strong><br />
consideration<br />
• Expert valuer confirming the valuation as<br />
per the sale deed<br />
• Valuation <strong>of</strong>ficer <strong>of</strong> the department arrived<br />
at a higher value<br />
• Lordships Sabyasachi Mukherji and<br />
S.Ranganathan JJ. Dismissed departments<br />
special leave petition against the orders <strong>of</strong><br />
the Delhi High Court holding that no<br />
understatement <strong>of</strong> value was proved<br />
CIT v. Rakesh Kumar 171 ITR (ST) 47 (SC)<br />
ACIT v. Shakti Bldrs (2005) 93 ITD269(ITAT-DEL)<br />
DEL)