Discrepancy in Property Stamp Duty Value vs. Purchase Price u/s 56(2)(vii)(b) of Income Tax Act Analyzed.

Discrepancy in Property Stamp Duty Value vs. Purchase Price u/s 56(2)(vii)(b) of Income Tax Act Analyzed. https://www.taxtmi.com/highlights?id=58855 Addition u/s 56(2)(vii)(b) - difference between the stamp duty value and the actual purchase consideration - - DVO has given due consideration for the location of the property and other relevant evidences produced before him by the assessee. The DVO is expert in valuation of the property and as the valuation is based on scientific method, the same cannot be doubted. - AT en-us Tue, 20 Jul 2021 17:18:44 +0530 Tue, 20 Jul 2021 17:18:44 +0530 TaxTMI RSS Generator Discrepancy in Property Stamp Duty Value vs. Purchase Price u/s 56(2)(vii)(b) of Income Tax Act Analyzed. https://www.taxtmi.com/highlights?id=58855 Addition u/s 56(2)(vii)(b) - difference between the stamp duty value and the actual purchase consideration - - DVO has given due consideration for the location of the property and other relevant evidences produced before him by the assessee. The DVO is expert in valuation of the property and as the valuation is based on scientific method, the same cannot be doubted. - AT Highlights Income Tax Tue, 20 Jul 2021 17:18:44 +0530 https://www.taxtmi.com/highlights?id=58855