https://www.taxtmi.com/caselaws?id=410256 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 1,61,740 under Section 56 due to the variance between the circle rate and actual consideration received. The Tribunal emphasized that the difference fell below the 10% threshold, aligning with the Mumbai Tribunal's precedent, and highlighted the importance of adhering to statutory provisions and relevant case law in property valuation assessments. en-us Tue, 27 Jul 2021 00:00:00 +0530 Tue, 27 Jul 2021 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410256 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the addition of Rs. 1,61,740 under Section 56 due to the variance between the circle rate and actual consideration received. The Tribunal emphasized that the difference fell below the 10% threshold, aligning with the Mumbai Tribunal's precedent, and highlighted the importance of adhering to statutory provisions and relevant case law in property valuation assessments. Case-Laws Income Tax Tue, 27 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410256