Search: penalty u/s 271

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Section 5O6 Section 143(3)2 Section 50C2 Capital Gains2 Long Term Capital Gains2 Addition to Income2

KALAWATHI BAGAYATH,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, both the appeal of the assessee in ITA

ITA 1279/HYD/2017[2012-13]Status: DisposedITAT Hyderabad30 Aug 2021AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri P. Murali Mohana RaoFor Respondent: Shri Rohit Mujumdar

Section 143(3)Section 50CSection 5O

5O,OOO/- which has been duly admitted in the return of income for the year under consideration. b) Though the value of the impugned property as per the stamp valuation Authority is Rs.12,37,OO,OOO/-, it is only a deemed consideration for the purpose of Section SOC of the Act. c) Section 5OC of the Act only incorporates