https://www.taxtmi.com/caselaws?id=768351 The ITAT Mumbai allowed the assessee's appeal against addition under section 56(2)(x) for alleged difference between stamp duty valuation and consideration paid. The tribunal held that the allotment letter should be considered as "agreement to sell" and since part payment was made through banking channels prior to sale deed execution, the proviso to section 56(2)(x) applied. The relevant date for stamp duty valuation was determined as the allotment date rather than the sale deed date, making the addition unjustified. en-us Fri, 21 Feb 2025 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768351 The ITAT Mumbai allowed the assessee's appeal against addition under section 56(2)(x) for alleged difference between stamp duty valuation and consideration paid. The tribunal held that the allotment letter should be considered as "agreement to sell" and since part payment was made through banking channels prior to sale deed execution, the proviso to section 56(2)(x) applied. The relevant date for stamp duty valuation was determined as the allotment date rather than the sale deed date, making the addition unjustified. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768351