https://www.taxtmi.com/caselaws?id=760059 The ITAT Mumbai remanded the case to CIT(A) for fresh adjudication regarding addition under section 56(2)(vii)(b) concerning difference between stamp duty valuation of land and settlement amount. The tribunal found that CIT(A) failed to consider the assessee's detailed submissions dated 15/02/2021, the agreement dated 13/09/1984, and deed of confirmation dated 17/06/2000. CIT(A) neither examined the contentions nor sought additional information before upholding the AO's additions. The appeal was allowed for statistical purposes with directions for denovo consideration. en-us Fri, 11 Oct 2024 00:00:00 +0530 Tue, 15 Oct 2024 08:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760059 The ITAT Mumbai remanded the case to CIT(A) for fresh adjudication regarding addition under section 56(2)(vii)(b) concerning difference between stamp duty valuation of land and settlement amount. The tribunal found that CIT(A) failed to consider the assessee's detailed submissions dated 15/02/2021, the agreement dated 13/09/1984, and deed of confirmation dated 17/06/2000. CIT(A) neither examined the contentions nor sought additional information before upholding the AO's additions. The appeal was allowed for statistical purposes with directions for denovo consideration. Case-Laws Income Tax Fri, 11 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760059