https://www.taxtmi.com/caselaws?id=775413 The ITAT Pune held that the addition under section 56(2)(x)(b) was not maintainable as the difference between the purchase price paid by the assessee and the Fair Market Value (FMV) determined by the DVO was only 4%, which falls within the 5% tolerance band prescribed by the amendment effective from 01/04/2019. The DVO's valuation was also found flawed since it compared flats on higher floors, which typically command higher prices, to the assessee's flat on a lower floor. Consequently, the appeal by the assessee was allowed, and the addition was deleted. en-us Mon, 02 Jun 2025 00:00:00 +0530 Fri, 25 Jul 2025 08:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775413 The ITAT Pune held that the addition under section 56(2)(x)(b) was not maintainable as the difference between the purchase price paid by the assessee and the Fair Market Value (FMV) determined by the DVO was only 4%, which falls within the 5% tolerance band prescribed by the amendment effective from 01/04/2019. The DVO's valuation was also found flawed since it compared flats on higher floors, which typically command higher prices, to the assessee's flat on a lower floor. Consequently, the appeal by the assessee was allowed, and the addition was deleted. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775413