https://www.taxtmi.com/highlights?id=69832 Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be invoked only if the circle rate of the property was more than the price at which the property was purchased and the property can be referred to DVO only if the assessee disputes the stamp duty value of the property. Thus, it is the plea of the assessee that invocation of section 56(2)(vii) is itself wrong. - AT en-us Thu, 18 May 2023 08:38:02 +0530 Thu, 18 May 2023 08:38:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69832 Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be invoked only if the circle rate of the property was more than the price at which the property was purchased and the property can be referred to DVO only if the assessee disputes the stamp duty value of the property. Thus, it is the plea of the assessee that invocation of section 56(2)(vii) is itself wrong. - AT Highlights Income Tax Thu, 18 May 2023 08:38:02 +0530 https://www.taxtmi.com/highlights?id=69832