https://www.taxtmi.com/caselaws?id=775042 The ITAT Mumbai held that addition under section 56(2)(x) based on difference between stamp duty value and agreed sale consideration should be deleted. The assessee entered into an agreement in 2013 for a MHADA flat, with initial payment made on 19.12.2013 through banking channels before the agreement date. The allotment letter was issued to the original party on 06.01.2014, and the assessee paid cooperative society charges including maintenance and administrative fees on 05.02.2014. The property was jointly purchased by the assessee and spouse. The tribunal found that provisions of section 56(2)(x) were applicable, but considering that part consideration was paid through account payee cheque prior to the agreement date, the stamp duty value as on the agreement date in FY 2013-14 should be considered. The appeal was allowed and the addition deleted. en-us Wed, 16 Jul 2025 00:00:00 +0530 Fri, 18 Jul 2025 08:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775042 The ITAT Mumbai held that addition under section 56(2)(x) based on difference between stamp duty value and agreed sale consideration should be deleted. The assessee entered into an agreement in 2013 for a MHADA flat, with initial payment made on 19.12.2013 through banking channels before the agreement date. The allotment letter was issued to the original party on 06.01.2014, and the assessee paid cooperative society charges including maintenance and administrative fees on 05.02.2014. The property was jointly purchased by the assessee and spouse. The tribunal found that provisions of section 56(2)(x) were applicable, but considering that part consideration was paid through account payee cheque prior to the agreement date, the stamp duty value as on the agreement date in FY 2013-14 should be considered. The appeal was allowed and the addition deleted. Case-Laws Income Tax Wed, 16 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775042