ASHIANA BUILDPROP PRIVATE LIMITED,UDAIPUR vs. DCIT, CENTRAL CIRCLE-1, UDIAPUR, UDAIPUR

Bench: DR. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

capital gain or u/s 48, 56 or u/s 68 or 69. Thus the addition so made without any provision of act is also against the law and liable to be deleted on this ground alone. When the ld. AO has not invoked any provision of Act/law then also how the ld.AO can make the addition. When

ASHIANA BUILDPROP PRIVATE LIMITED,UDAIPUR vs. DCIT, CENTRAL CIRCLE-1, UDAIPUR, UDAIPUR

Capital gains—Applicability of first proviso to s. 12B of 1922 Act—\nProviso to s. 12B not attracted unless there is evidence that more consideration than\nwhat was stated in the document of transfer was received—Onus in this regard is on\nRevenue—Emphasis in those provisions is on consideration declared or disclosed by the\nassessee as distinguished from