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Income Tax

Addition u/s 56(2)(vii)(b) - difference between the stamp value...

Addition u/s 56(2)(vii)(b) Deleted Due to Lack of Evidence of Underreported Sale Consideration Below Jantri Rates.

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Income TaxOctober 21, 2021Case LawsAT

Addition u/s 56(2)(vii)(b) - difference between the stamp value and the purchase consideration - the AO made addition only on the basis of additional stamp duty. There is no evidence on record to suggest that the assessee has shown sale consideration on the lesser value of prevailing Jantri rates - Additions deleted - AT

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