S. 54F Value of entire land appurtenant to building purchased cannot be considered for exemption

S. 54F Value of entire land appurtenant to building purchased cannot be considered for exemption Posted: 24 Feb 2013 05:14 AM PST Section 54F is intended to encourage construction of or acquisition of residential house with the aid of the proceeds from the transfer of any long term capital asset, which is not a residencial house. The provision contemplates computing the cost of the residential building, but the value of the... Reopening for lack of price transparency & requirement of price adjustment in ALP valid Posted: 24 Feb 2013 05:13 AM PST The reasoning recorded by the assessing officer cannot be said to be totally irrelevant, as the relevancy is in the context of escapement of income for the assessment year and the information may be from any source outside and an information with reference to any earlier year is outside the purview... Browser Settings for Income Tax e-filing website Posted: 24 Feb 2013 05:00 AM PST Browser Settings Income Tax Department recommends that you use the following browser specifications for the best view of https://incometaxindiaefiling.gov.in website. You may still be able to use the e-Filing website using other browsers and versions, but the pages may not display properly or you... Valuation done by DVO binding on Assessing Officer Posted: 23 Feb 2013 09:18 PM PST Where the assessee claims that the value adopted or assessed for stamp duty purposes exceeds the fair market value of the property as on the date of transfer, the Assessing Officer may refer the valuation of the relevant asset to a Valuation Officer in accordance with section 55A of the Income-tax... No addition u/s. 68 if assessee proves the genuineness of transaction Posted: 23 Feb 2013 08:21 PM PST There was a clear lack of inquiry on the part of the assessing officer once the assessee had furnished all the material which we have already referred to above. In such an eventuality no addition can be made under section 68 of the Act. ICSI – Verification of Photograph & Signature of Members Posted: 23 Feb 2013 10:51 AM PST Members of ICSI are requested to send the scanned images of the latest colored photograph for uploading/replacing on the website of the Institute for facilitating the online verification of Member's Identity and also of the specimen signature. We would request you to kindly arrange to send the...