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2023 (9) TMI 250 - ITAT SURATAddition u/s 56(2)(vii) - income under the head “Income from other sources” - difference in sale consideration paid by assessee on purchase of plots of lands and the value determined by Stamp Valuation Authority - HELD THAT:- CIT(A) despite recording the contention of assessee has neither given his finding nor any liberty to assessee to file reply of such show cause notice nor have sought any comment of AO, and conveniently ignored such contention. Assessee also made prayer for referring the matter to DVO to ascertain fair market value as first proviso to clause-(vii) to sub-section 56(2). As find that despite sending the matter to DVO, CIT(A) has not waited for his report. Thus, we find that neither the AO has given opportunity to assessee before making addition u/s 56(2)(vii) of the Act nor the Ld. CIT(A) considered such objection raised by assessee during appellate stage nor waited for the report of DVO. Thus, find that the assessment order was passed in utter violation of principle of natural justice, which is not justifiable. Therefore, the addition made in the assessment order and confirmed by CIT(A) in the order impugned before me, is set aside. AO is directed to delete the addition u/s 56(2)(vii).Grounds of appeal raised by assessee are allowed.
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