Sale consideration-When difference between the stamp valuation adopted by Authority and that declared by the assessee is less than 10%

In John Fowler (India) Pvt. Ltd vs. DCIT (ITAT Mumbai), the Tribunal held that the AO is not entitled to make an addition to the sale consideration declared by the assessee if the difference between the valuation adopted by the Stamp Valuation Authority and that declared by the assessee is less than 10% and directed the AO to adopt the valuation of sale consideration as declared by the assessee. The additions made by the Assessing Officer u/s. 50C is deleted and as grounds raised by the assessee are allowed.

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The recovery of vehicles by the financier not an offence - SC

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Vanishing promoters and languishing shareholders

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