https://www.taxtmi.com/caselaws?id=781836 ITAT MUMBAI-AT dealt with addition u/s 56(2)(x) on the difference between purchase value and stamp duty value of a jointly owned flat, based on a statement u/s 132(4) of the developer's director. The assessee claimed the flat was allotted in lieu of relinquishing prior occupation in the old building, which would take the transaction outside s.56(2)(x). ITAT held the recital in the agreement was insufficient and the assessee must produce independent evidence of prior possession. The matter was remanded to AO for fresh adjudication, including possible examination of unexplained cash payments u/s 69A/115BBE if the claim fails. en-us Thu, 16 Oct 2025 00:00:00 +0530 Fri, 21 Nov 2025 08:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781836 ITAT MUMBAI-AT dealt with addition u/s 56(2)(x) on the difference between purchase value and stamp duty value of a jointly owned flat, based on a statement u/s 132(4) of the developer's director. The assessee claimed the flat was allotted in lieu of relinquishing prior occupation in the old building, which would take the transaction outside s.56(2)(x). ITAT held the recital in the agreement was insufficient and the assessee must produce independent evidence of prior possession. The matter was remanded to AO for fresh adjudication, including possible examination of unexplained cash payments u/s 69A/115BBE if the claim fails. Case-Laws Income Tax Thu, 16 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781836