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ITAT affirmed the inclusion of the differential between the Government stamp valuation and the declared sale consideration in the assessee's income under s. 43CA; the assessing officer had added the shortfall where the sale deed showed Rs. 45,00,000 against stamp valuation of Rs. 58,23,600, and CIT(A) confirmed the addition due to absence of any evidence of an appeal to the stamp valuation authority. The assessee's failure to adduce supporting material and non-appearance before the Tribunal resulted in the appellate relief being denied and the impugned addition upheld.
ITAT affirmed the inclusion of the differential between the Government stamp valuation and the declared sale consideration in the assessee's income under s. 43CA; the assessing officer had added the shortfall where the sale deed showed Rs. 45,00,000 against stamp valuation of Rs. 58,23,600, and CIT(A) confirmed the addition due to absence of any evidence of an appeal to the stamp valuation authority. The assessee's failure to adduce supporting material and non-appearance before the Tribunal resulted in the appellate relief being denied and the impugned addition upheld.
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