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2022 (8) TMI 848 - AT - Income TaxAddition 56(2)(vii)(b) - difference in stamp duty value and purchase price of the property - original difference in valuation adopted by the AO by taking into consideration the valuation worked out by the DVO and the 50% share of the assessee came - HELD THAT:- AO passed the order u/s 154 when the DVO by considering the objection of the assessee worked out the difference at Rs. 13,41,900. The total consideration for the property was declared by the assessee at Rs. 3,24,00,000/- and his 50% share was at Rs. 1,62,00,000/- while the DVO worked out the valuation of assessee’s share at Rs. 1,75,41,900/-, thus, the difference in valuation determined by the DVO and declared by the assessee was 8.28% which was less than 10%. On a similar issue, the ITAT Delhi Bench ‘SMC’ for the A.Y. 2014-15 in the case of Geetika Sachdeva [2019 (12) TMI 451 - ITAT DELHI] held that the addition confirmed by the CIT(A) was not tenable since the difference between the sale consideration shown by the assessee and fair market value submitted by the DVO was less than 10% in the said case earlier decision in the case of Rahul Constructions [2012 (1) TMI 229 - ITAT PUNE] where in difference is less than 10 per cent and considering the fact that valuation is always a matter of estimation where some degree of difference is bound to occur, we are of the considered opinion that the AO in the instant case is not justified in substituting the sale consideration as against the actual sale consideration disclosed by the assessee - Decided in favour of assessee.
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