https://www.taxtmi.com/caselaws?id=754121 ITAT Pune dismissed Revenue's appeal regarding rectification u/s 154 for income from other sources u/s 56(2)(vii)(b). The case involved difference between sale consideration and stamp duty valuation for immovable property purchase. After initial assessment accepting returned income, AO reopened case u/s 154 to apply provisions where stamp duty value exceeded actual consideration paid. CIT(A)/NFAC held stamp duty valuation issue was debatable, representing change of opinion rather than apparent error. ITAT upheld that errors requiring lengthy reasoning on debatable points cannot constitute errors apparent on record face, dismissing Revenue's appeal. en-us Tue, 07 May 2024 00:00:00 +0530 Tue, 18 Jun 2024 08:29:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754121 ITAT Pune dismissed Revenue's appeal regarding rectification u/s 154 for income from other sources u/s 56(2)(vii)(b). The case involved difference between sale consideration and stamp duty valuation for immovable property purchase. After initial assessment accepting returned income, AO reopened case u/s 154 to apply provisions where stamp duty value exceeded actual consideration paid. CIT(A)/NFAC held stamp duty valuation issue was debatable, representing change of opinion rather than apparent error. ITAT upheld that errors requiring lengthy reasoning on debatable points cannot constitute errors apparent on record face, dismissing Revenue's appeal. Case-Laws Income Tax Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754121