A recent ITAT ruling emphasizes that property transactions below stamp duty value can trigger tax scrutiny. A Ghaziabad taxpayer faced penalties for not reporting a ₹10.7 lakh difference, but the ITAT later overturned the penalty, citing the taxpayer’s lack of intent to conceal income.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.