https://www.taxtmi.com/caselaws?id=771055 The ITAT Mumbai ruled in favor of the assessee regarding addition under section 56(2)(x) for treating the difference between stamp duty value and purchase consideration as income from other sources. The assessee purchased a flat with three co-owners, holding a 32.5% share. The tribunal found that the assessee made part payment of Rs. 4,51,421/- in FY 2010-11 through cleared cheques, with remaining payments made before registration. The ITAT held that the assessee successfully proved part payment on the agreement date, making them eligible for benefits under the first and second proviso to section 56(2)(x). en-us Fri, 16 May 2025 00:00:00 +0530 Mon, 19 May 2025 15:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771055 The ITAT Mumbai ruled in favor of the assessee regarding addition under section 56(2)(x) for treating the difference between stamp duty value and purchase consideration as income from other sources. The assessee purchased a flat with three co-owners, holding a 32.5% share. The tribunal found that the assessee made part payment of Rs. 4,51,421/- in FY 2010-11 through cleared cheques, with remaining payments made before registration. The ITAT held that the assessee successfully proved part payment on the agreement date, making them eligible for benefits under the first and second proviso to section 56(2)(x). Case-Laws Income Tax Fri, 16 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771055