https://www.taxtmi.com/caselaws?id=761774 The ITAT Mumbai allowed the assessee's appeal on two grounds. First, following its coordinate bench decision in the assessee's own case, the tribunal deleted the addition of deemed income on unsold stock under house property income head, applying the rule of consistency. Second, regarding disallowance under Section 43CA, the tribunal found that since the difference between actual consideration and DVO valuation was less than 10% of DVO value, the addition was deleted. The tribunal relied on the coordinate bench decision in Ravi Development case, holding that the 10% tolerance band amendment to Section 43CA applies retrospectively. en-us Mon, 30 Sep 2024 00:00:00 +0530 Sat, 16 Nov 2024 08:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761774 The ITAT Mumbai allowed the assessee's appeal on two grounds. First, following its coordinate bench decision in the assessee's own case, the tribunal deleted the addition of deemed income on unsold stock under house property income head, applying the rule of consistency. Second, regarding disallowance under Section 43CA, the tribunal found that since the difference between actual consideration and DVO valuation was less than 10% of DVO value, the addition was deleted. The tribunal relied on the coordinate bench decision in Ravi Development case, holding that the 10% tolerance band amendment to Section 43CA applies retrospectively. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761774