https://www.taxtmi.com/caselaws?id=764180 ITAT SURAT upheld PCIT's revision u/s 263 regarding property transaction taxation. AO incorrectly added entire stamp duty value under s.56(2)(x) instead of excess consideration of Rs.14,93,393. PCIT correctly identified that Rs.33,18,000 should be added as unexplained investment u/s 69A due to assessee's failure to explain investment source. However, ITAT found contradictory facts regarding payment dates spanning multiple years and remanded matter to PCIT for further inquiry on year-wise investments and purchase details. Appeal partly allowed for statistical purposes. en-us Thu, 02 Jan 2025 00:00:00 +0530 Fri, 03 Jan 2025 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764180 ITAT SURAT upheld PCIT's revision u/s 263 regarding property transaction taxation. AO incorrectly added entire stamp duty value under s.56(2)(x) instead of excess consideration of Rs.14,93,393. PCIT correctly identified that Rs.33,18,000 should be added as unexplained investment u/s 69A due to assessee's failure to explain investment source. However, ITAT found contradictory facts regarding payment dates spanning multiple years and remanded matter to PCIT for further inquiry on year-wise investments and purchase details. Appeal partly allowed for statistical purposes. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764180