https://www.taxtmi.com/caselaws?id=389568 The Tribunal partly allowed the appeal, deleting the addition of Rs. 8,40,000 made under Section 56(2)(vii)(b)(ii) of the Income Tax Act, 1961, based on the precedent set by the ITAT, Pune-B Bench. The Tribunal concluded that the addition confirmed by the CIT(A) was not sustainable due to the difference being less than 10 percent between the value given by the assessee and the fair market value determined by the DVO. en-us Mon, 02 Dec 2019 00:00:00 +0530 Wed, 11 Dec 2019 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389568 The Tribunal partly allowed the appeal, deleting the addition of Rs. 8,40,000 made under Section 56(2)(vii)(b)(ii) of the Income Tax Act, 1961, based on the precedent set by the ITAT, Pune-B Bench. The Tribunal concluded that the addition confirmed by the CIT(A) was not sustainable due to the difference being less than 10 percent between the value given by the assessee and the fair market value determined by the DVO. Case-Laws Income Tax Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389568