https://www.taxtmi.com/caselaws?id=460874 ITAT Mumbai set aside CIT's revision order u/s 263 regarding stamp duty valuation under section 43CA. The assessee provided evidence of allotment letters and bank payments prior to registration, discharging the burden of proof. CIT could not disbelieve these documents merely due to absence of buyers' bank statements. Since booking and payments were made before registration through proper banking channels, stamp duty value at registration was not applicable. The tribunal found no erroneous or prejudicial assessment order, as AO had examined relevant facts. CIT's direction for re-examination without cogent material constituted improper roving inquiry, making section 263 revision unjustified. en-us Tue, 14 Jan 2020 00:00:00 +0530 Wed, 26 Feb 2025 22:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460874 ITAT Mumbai set aside CIT's revision order u/s 263 regarding stamp duty valuation under section 43CA. The assessee provided evidence of allotment letters and bank payments prior to registration, discharging the burden of proof. CIT could not disbelieve these documents merely due to absence of buyers' bank statements. Since booking and payments were made before registration through proper banking channels, stamp duty value at registration was not applicable. The tribunal found no erroneous or prejudicial assessment order, as AO had examined relevant facts. CIT's direction for re-examination without cogent material constituted improper roving inquiry, making section 263 revision unjustified. Case-Laws Income Tax Tue, 14 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460874