https://www.taxtmi.com/caselaws?id=388982 The Tribunal ruled in favor of the appellant, finding the Assessing Officer's valuation based on a higher guideline rate from an adjacent area unsustainable. The addition made under section 56(2)(vii)(b)(ii) of the Act was deemed invalid as the sale deed reflected the prescribed value for the specific area. Consequently, the Tribunal allowed the appeal, deleting the addition and concluding in favor of the appellant. en-us Tue, 05 Nov 2019 00:00:00 +0530 Thu, 28 Nov 2019 13:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388982 The Tribunal ruled in favor of the appellant, finding the Assessing Officer's valuation based on a higher guideline rate from an adjacent area unsustainable. The addition made under section 56(2)(vii)(b)(ii) of the Act was deemed invalid as the sale deed reflected the prescribed value for the specific area. Consequently, the Tribunal allowed the appeal, deleting the addition and concluding in favor of the appellant. Case-Laws Income Tax Tue, 05 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388982