https://www.taxtmi.com/highlights?id=81136 Immovable property purchased, stamp duty value higher than consideration paid. Assessee's request to refer matter to Valuation Officer ignored. Held: As property registered with area of 783.4 sq ft, assessee cannot claim different area. Stamp duty value of Rs. 2,00,17,500 exceeds consideration of Rs. 1.70 crores, hence difference treated as income u/s 56(2)(vii). No infirmity in CIT(A)'s order, appeal dismissed. Stamp duty value considered full value of consideration for Section 56(2)(vii) purposes. en-us Sat, 07 Sep 2024 08:19:22 +0530 Sat, 07 Sep 2024 08:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81136 Immovable property purchased, stamp duty value higher than consideration paid. Assessee's request to refer matter to Valuation Officer ignored. Held: As property registered with area of 783.4 sq ft, assessee cannot claim different area. Stamp duty value of Rs. 2,00,17,500 exceeds consideration of Rs. 1.70 crores, hence difference treated as income u/s 56(2)(vii). No infirmity in CIT(A)'s order, appeal dismissed. Stamp duty value considered full value of consideration for Section 56(2)(vii) purposes. Highlights Income Tax Sat, 07 Sep 2024 08:19:22 +0530 https://www.taxtmi.com/highlights?id=81136