https://www.taxtmi.com/caselaws?id=759089 ITAT Mumbai dismissed Revenue's appeal regarding addition u/s 56(2)(x) based on stamp duty valuation differences. The tribunal held that when property consideration is fixed through allotment letter and payments made via banking channels before registration, stamp duty value should be determined as of agreement date, not registration date. Since assessee's payments in 2012 exceeded stamp duty value at allotment time, no addition was warranted under the provision. en-us Thu, 22 Aug 2024 00:00:00 +0530 Tue, 24 Sep 2024 09:05:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759089 ITAT Mumbai dismissed Revenue's appeal regarding addition u/s 56(2)(x) based on stamp duty valuation differences. The tribunal held that when property consideration is fixed through allotment letter and payments made via banking channels before registration, stamp duty value should be determined as of agreement date, not registration date. Since assessee's payments in 2012 exceeded stamp duty value at allotment time, no addition was warranted under the provision. Case-Laws Income Tax Thu, 22 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759089