https://www.taxtmi.com/caselaws?id=782808 Property valuation under section 56(2)(vii)(b) was linked to the earlier booking year where the assessee had booked the flat in 2009 and paid the agreed consideration then. Later allotment and registration documents showing a different flat number did not alter the substance, as the developer confirmed the number change was a typographical error and the area remained unchanged. Additional evidence, including the developer's confirmation and the assessee's affidavit, was admitted. On that basis, the benefit of the Explanation to section 56(2)(vii)(b) was available, and the Assessing Officer was directed to verify the earlier booking and allotment documents before fresh assessment. en-us Mon, 01 Dec 2025 00:00:00 +0530 Thu, 04 Dec 2025 09:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782808 Property valuation under section 56(2)(vii)(b) was linked to the earlier booking year where the assessee had booked the flat in 2009 and paid the agreed consideration then. Later allotment and registration documents showing a different flat number did not alter the substance, as the developer confirmed the number change was a typographical error and the area remained unchanged. Additional evidence, including the developer's confirmation and the assessee's affidavit, was admitted. On that basis, the benefit of the Explanation to section 56(2)(vii)(b) was available, and the Assessing Officer was directed to verify the earlier booking and allotment documents before fresh assessment. Case-Laws Income Tax Mon, 01 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782808