Dispute Over Property Value: AO's Decision Upheld u/s 56(2)(vii)(b)(ii) of Income Tax Act for Tax Valuation.

Dispute Over Property Value: AO's Decision Upheld u/s 56(2)(vii)(b)(ii) of Income Tax Act for Tax Valuation. https://www.taxtmi.com/highlights?id=72077 Addition u/s 56(2)(vii)(b)(ii) - difference in the value that was adopted by the stamp valuation authority for payment of stamp duty as against the value for which the sale transaction was executed - AO rightly declined the request for reference by the A.O to the Valuation Cell for determining the fair market value (FMV) of the said property - AT en-us Mon, 18 Sep 2023 11:07:28 +0530 Mon, 18 Sep 2023 14:25:16 +0530 TaxTMI RSS Generator Dispute Over Property Value: AO's Decision Upheld u/s 56(2)(vii)(b)(ii) of Income Tax Act for Tax Valuation. https://www.taxtmi.com/highlights?id=72077 Addition u/s 56(2)(vii)(b)(ii) - difference in the value that was adopted by the stamp valuation authority for payment of stamp duty as against the value for which the sale transaction was executed - AO rightly declined the request for reference by the A.O to the Valuation Cell for determining the fair market value (FMV) of the said property - AT Highlights Income Tax Mon, 18 Sep 2023 11:07:28 +0530 https://www.taxtmi.com/highlights?id=72077