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    Income Tax

    Addition u/s 56(2)(vii)(b) - AO referred the valuation of...

    Property Valuation Assessed as Income u/s 56(2)(vii)(b) by AO Based on DVO's Report.

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    Income TaxDecember 15, 2022Case LawsAT

    Addition u/s 56(2)(vii)(b) - AO referred the valuation of property to Valuation Cell and DVO - difference between the DVO value and consideration paid for purchase of property should be assessed as income of the purchasers in terms of s 56(2)(vii)(b) - AO after considering relevant facts has rightly made addition towards differential consideration u/s 56(2)(vii)(b) - AT

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