https://www.taxtmi.com/caselaws?id=775780 ITAT Delhi upheld the AO's jurisdiction in conducting limited scrutiny related to capital gains and capital loss set-off. The Tribunal rejected the AO's higher valuation of shares at INR 180 per share, finding it inconsistent with the statutory provisions under section 50CA and Rule 11UA(1), which require using stamp duty value for immovable property in share valuation. The merchant banker's valuation at INR (-) 546.68 per share, based on stamp duty value, was accepted. Consequently, additions made by the AO on share valuation were deleted, allowing Grounds 2 to 9 raised by the assessee. However, the AO was directed to levy interest under sections 234A and 234B as mandated, after giving effect to the Tribunal's order. en-us Fri, 25 Jul 2025 00:00:00 +0530 Thu, 31 Jul 2025 08:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775780 ITAT Delhi upheld the AO's jurisdiction in conducting limited scrutiny related to capital gains and capital loss set-off. The Tribunal rejected the AO's higher valuation of shares at INR 180 per share, finding it inconsistent with the statutory provisions under section 50CA and Rule 11UA(1), which require using stamp duty value for immovable property in share valuation. The merchant banker's valuation at INR (-) 546.68 per share, based on stamp duty value, was accepted. Consequently, additions made by the AO on share valuation were deleted, allowing Grounds 2 to 9 raised by the assessee. However, the AO was directed to levy interest under sections 234A and 234B as mandated, after giving effect to the Tribunal's order. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775780