https://www.taxtmi.com/highlights?id=67063 Addition u/s. 56(2)(vii)(b) - difference between the Stamp Duty valuation and the actual consideration paid - In the instant case, on the date of allotment the building was under construction and even on the date of registration of sale deed the assessee had not taken possession of the immovable property. Assessee had acquired right in the ownership of flat at the time of issuance of allotment letter. Therefore, in the facts of the case stamp duty value as on the date of allotment of flat is relevant. - AT en-us Tue, 13 Dec 2022 12:12:03 +0530 Tue, 13 Dec 2022 12:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67063 Addition u/s. 56(2)(vii)(b) - difference between the Stamp Duty valuation and the actual consideration paid - In the instant case, on the date of allotment the building was under construction and even on the date of registration of sale deed the assessee had not taken possession of the immovable property. Assessee had acquired right in the ownership of flat at the time of issuance of allotment letter. Therefore, in the facts of the case stamp duty value as on the date of allotment of flat is relevant. - AT Highlights Income Tax Tue, 13 Dec 2022 12:12:03 +0530 https://www.taxtmi.com/highlights?id=67063