https://www.taxtmi.com/caselaws?id=784657 The dominant issue was whether an addition under s.56(2)(vii)(b) could be made by comparing the purchase consideration with the stamp-duty valuation as on the year of registration, despite an earlier allotment. The Tribunal held that where the assessee booked the property earlier, received an allotment letter in that year, and paid consideration through banking channels, the relevant stamp-duty/ready-reckoner value is that prevailing on the allotment date. On facts, the ready-reckoner value in the allotment year was lower than the actual consideration, rendering any differential computation impermissible. Accordingly, the addition made for the assessee's 50% share was deleted and the appeal was allowed. en-us Wed, 07 Jan 2026 00:00:00 +0530 Fri, 09 Jan 2026 08:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784657 The dominant issue was whether an addition under s.56(2)(vii)(b) could be made by comparing the purchase consideration with the stamp-duty valuation as on the year of registration, despite an earlier allotment. The Tribunal held that where the assessee booked the property earlier, received an allotment letter in that year, and paid consideration through banking channels, the relevant stamp-duty/ready-reckoner value is that prevailing on the allotment date. On facts, the ready-reckoner value in the allotment year was lower than the actual consideration, rendering any differential computation impermissible. Accordingly, the addition made for the assessee's 50% share was deleted and the appeal was allowed. Case-Laws Income Tax Wed, 07 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784657