The ITAT held that the addition under section 56(2)(x) for the...

The ITAT held that the addition under section 56(2)(x) for the difference between the sale consideration stated in the registered deed and the stamp duty value was unwarranted, as the discrepancy was less than 5%. The AO and CIT(A) had confirmed the addition, but the tribunal noted that the statutory provision mandates additions only when the difference exceeds 5%. Further, ongoing litigation concerning the property's title and specific performance at the time of sale justified the lower sale price relative to the circle rate. Consequently, the addition was deleted, and the assessee's appeal was allowed.

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