https://www.taxtmi.com/caselaws?id=462965 The ITAT Mumbai held that the excess of stamp duty value over the purchase consideration, being less than 10% of the consideration, does not attract the provisions of section 56(2)(x)(b) of the Act. The tribunal applied the amendment increasing the tolerance threshold from 5% to 10% retrospectively, following precedents from ITAT Kolkata and Mumbai. Consequently, the addition under section 56(2)(x) was disallowed, and the appeal of the assessee was allowed. en-us Thu, 12 Sep 2024 00:00:00 +0530 Mon, 28 Jul 2025 18:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462965 The ITAT Mumbai held that the excess of stamp duty value over the purchase consideration, being less than 10% of the consideration, does not attract the provisions of section 56(2)(x)(b) of the Act. The tribunal applied the amendment increasing the tolerance threshold from 5% to 10% retrospectively, following precedents from ITAT Kolkata and Mumbai. Consequently, the addition under section 56(2)(x) was disallowed, and the appeal of the assessee was allowed. Case-Laws Income Tax Thu, 12 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462965