https://www.taxtmi.com/caselaws?id=769296 The ITAT Mumbai held that the assessee was entitled to the 10% tolerance limit under section 56(2)(x)(b)(B) regarding variance between stamp duty value and purchase consideration. The tribunal found the relevant amendment was curative and retrospectively applicable to the assessment year. The AO's approach of limiting the tolerance threshold to 5% of total consideration was deemed unjustified and contrary to correct statutory interpretation. The addition made under section 56(2)(x) was deleted and the assessee's appeals were allowed. en-us Fri, 21 Mar 2025 00:00:00 +0530 Wed, 23 Apr 2025 09:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769296 The ITAT Mumbai held that the assessee was entitled to the 10% tolerance limit under section 56(2)(x)(b)(B) regarding variance between stamp duty value and purchase consideration. The tribunal found the relevant amendment was curative and retrospectively applicable to the assessment year. The AO's approach of limiting the tolerance threshold to 5% of total consideration was deemed unjustified and contrary to correct statutory interpretation. The addition made under section 56(2)(x) was deleted and the assessee's appeals were allowed. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769296