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2019 (2) TMI 1875 - AT - Income TaxUnexplained investment in construction of a property by the assessee u/s. 69A/56(2) (vii) (b) - difference between the actual value and the value for which the assessee purchased the property - As per the provisions of the 69A read with Sec.50C and 56(2)(vii)(b)(ii) the following income shall be charged to tax under the head Income from other sources - HELD THAT:- Pune Bench of the Tribunal rendered in the case of Smt. Ratnakanta B. Agarwal [2017 (9) TMI 176 - ITAT PUNE] is applicable to the facts of the present case. Without going into the objections of the assessee with regard to the report of the DVO, find that the difference in valuation as adopted by the DVO and the price paid for the property by the assessee is less than 5%. In the given circumstances, as held by the coordinate Bench of Pune Bench in the case of Smt. Ratnakanta B. Agarwal [Supra] valuation is always a matter of estimation and the difference of less than 5% is only a difference which should be construed as a difference in estimation and the value adopted by the assessee should be accepted in such circumstances. Respectfully direct that the addition sustained by the CIT(Appeals) should be deleted. - Decided in favour of assessee.
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