https://www.taxtmi.com/caselaws?id=776008 The ITAT Ahmedabad held that an addition under section 56(2)(x) for the difference between the sale consideration and the stamp duty value was not justified as the difference was less than 5%. The AO's addition, confirmed by the CIT(A), was set aside since the provision mandates addition only if the difference exceeds 5%. The tribunal also noted ongoing litigation on the title and specific performance at the time of sale, explaining the lower sale price. Consequently, the addition was deleted and the assessee's appeal allowed. en-us Wed, 04 Jun 2025 00:00:00 +0530 Thu, 31 Jul 2025 13:18:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776008 The ITAT Ahmedabad held that an addition under section 56(2)(x) for the difference between the sale consideration and the stamp duty value was not justified as the difference was less than 5%. The AO's addition, confirmed by the CIT(A), was set aside since the provision mandates addition only if the difference exceeds 5%. The tribunal also noted ongoing litigation on the title and specific performance at the time of sale, explaining the lower sale price. Consequently, the addition was deleted and the assessee's appeal allowed. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776008