https://www.taxtmi.com/caselaws?id=770511 ITAT Mumbai dismissed assessee's challenge to reopening of assessment under section 147 based on insight portal information, finding AO had definite information about property transaction despite assessee's non-response to notices. Natural justice violation claim was rejected due to lack of specific arguments. For addition under section 56(2)(x), ITAT noted discrepancy between DVO valuation and Government Registered Valuer rates for comparable properties in same locality. ITAT directed AO to take average of both valuation reports to recompute addition under section 56(2)(x). Appeal was partly allowed on valuation issue while other grounds were dismissed. en-us Wed, 30 Apr 2025 00:00:00 +0530 Mon, 12 May 2025 09:19:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770511 ITAT Mumbai dismissed assessee's challenge to reopening of assessment under section 147 based on insight portal information, finding AO had definite information about property transaction despite assessee's non-response to notices. Natural justice violation claim was rejected due to lack of specific arguments. For addition under section 56(2)(x), ITAT noted discrepancy between DVO valuation and Government Registered Valuer rates for comparable properties in same locality. ITAT directed AO to take average of both valuation reports to recompute addition under section 56(2)(x). Appeal was partly allowed on valuation issue while other grounds were dismissed. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770511