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2019 (2) TMI 1916 - AT - Income TaxAddition invoking provisions of section 43CA - difference between stamp duty valuation and actual consideration - application of the case laws with regard to Section 50C - HELD THAT:- We refer to the decision of the Co-ordinate Bench of the Tribunal, Pune in the case of Rahul Construction [2012 (1) TMI 229 - ITAT PUNE] there is a wide variation between the two values and that they are based on some estimate. Difference between the sale consideration shown by the assessee and the fair market value determined by the DVO which is less than 10%. In view of the fact that valuation is always a matter of estimation where some difference is bound to occur. The Assessing Officer was not justified in substituting the value determined by the DVO for the sale consideration disclosed by the assessee. Therefore, Assessing Officer was directed to take ₹ 19,00,000/- only as the sale consideration of the property. This case of Rahul Construction Vs. DCIT (supra.) was also followed by the Pune Bench of the Tribunal in [2012 (1) TMI 229 - ITAT PUNE] therein also, the benefit of 10% difference of sale value was allowed in favour of the assessee. Thus, following the aforesaid decisions, we are of the considered view that difference between the sale consideration of the property shown by the assessee and the fair market value determined by the DVO under section 50C(2) being less than 10%, the Assessing Officer is not justified in substituting the value determined by the DVO for the sale consideration disclosed by the assessee. - We set aside the order of the Ld. CIT(Appeal) and allow the appeal of the assessee.
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