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2020 (2) TMI 28 - AT - Income TaxReference of the matter to the DVO for valuation - difference in value adopted for registration before the Sub-Registrar (stamp value) and the value received by the assessee for sale of the immovable property - A.O. brought the same as unexplained investment and treated as capital gain u/s 50C - HELD THAT:- The present case, the A.O. has applied the provisions of section 50C for the computation of additional capital gain on the basis of the value adopted for registration of the said property. Apart from the stamp duty valuation, there is nothing on record to suggest that the assessee has received extra sale consideration over and above the sale consideration reflected in the sale deed. It was held by the Hon’ble Allahabad High Court in the case of Dinesh Kumar Mittal v. ITO [1991 (3) TMI 78 - ALLAHABAD HIGH COURT] that there is no law to the effect that the value determined for the purposes of stamp duty is the actual consideration passed between the parties to the sale and it is the burden of the Department to show that the assessee received extra consideration passed between the parties concerned. As in the case of Anand Banwarilal Adhukia v. Deputy Commissioner of Income-tax [2016 (11) TMI 294 - GUJARAT HIGH COURT] wherein held that where the Assessing Officer has no cogent material available not to satisfy himself about the requirement of section 69 of the I.T.Act, and therefore, in the absence of it the reference could not have been made u/s 142A Applying those ratio,in the present case, there is no need to refer the matter to the DVO for valuation, as there is no material in the hands of the Assessing Officer to consider the additional consideration passed between the parties, as such the addition cannot be made in this case. Appeal filed by the assessee is allowed.
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