Thursday, 14 November 2013

IT department can’t restrict assessee from selling a similar flat at a lower price to an unrelated p

IT : Where assessee was engaged in business of selling of flats after construction and it offered an explanation for charging lower price in respect of some of flats sold by it and Assessing Officer without controverting such explanation made addition to income of assessee by applying rate of another flat sold by it, Assessing Officer was not justified in his action


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