Once an assessee objects to stamp duty value u/s 50C AO has to refer the case for valuaiton and is bound by the report of DVO

ATE Enterprises P Ltd. IT APPEAL NOs. 2873 & 2874 (MUM.) OF 2011 SEPTEMBER 7, 2012
Smt. T.V. Nagasena IT Appeal No. 296 (Bang.) of 2011 May 31, 2012
Dr. Indra Swaroop Bhatnagar Allahabad High Court IT APPEAL NO. 97 OF 2008 SEPTEMBER 29, 2011
M. C. Khunnah v. Union of India [1979] 118 ITR 414 (All)
CWT v. Dr. H. Rahman [1991] 189 ITR 307
Cental Board of Direct Taxes Circular No. 8 of 2002, dated August 27, 2002 (see [2002] 258 ITR (St.) 13)

Value of Entire land appurtenant to building can not be considered for s.54/54F

HIGH COURT OF KERALA

Smt. Asha George

v.

Income-tax Officer, Ward 2(1), Thrissur

IT APPEAL NO. 114 OF 2012

Date of Pronouncement – 16.01.2013

Minimum 30% marks for each subject and minimum 50% in aggregate to be obtained for passing CPT as per ICAI announcement dated 20-02-2013

Foreign Exchange fluctuation gain on share Capital raised in foreign country and repatriated to India on need basis for working capital requirement not to be treated revenue receipt

CIT vs. Jagatjit Industries Ltd 2011 337 ITR 21 (Delhi)
Delhi High Court observed that manner of utilization was approved by Ministry of Finance. High Court further held that capital raised whether in or outside India can be utilized both for acquiring fixed assets and to meet other expenses of organization i.e. working capital. For determining the nature of receipts due consideration should be given to the source of funds and not to the ultimate use of funds. Entire gain has to be treated as capital receipt as source of fund in this case is capital in future