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 />
• Agreement as well as other documents<br />
seized during the course <strong>of</strong> search stating<br />
amounts more than the sale consideration<br />
as per the sale deed<br />
• Held; The court cannot come to the<br />
conclusion that the price mentioned in the<br />
sale deed is not correct unless it is proved<br />
that the amount stated in the agreement<br />
was paid<br />
CIT v. K.C. Agnes and others<br />
(2003) 262 ITR 354 (Ker(<br />
Ker)