https://www.taxtmi.com/caselaws?id=785886 Where immovable property is acquired for consideration less than the stamp duty value, the excess of stamp duty value over consideration is assessable as income under section 56(2)(vii)(b); that excess is chargeable under the head income from other sources. If the assessee disputes the stamp duty valuation on grounds matching the tests in section 50C(2), the assessing officer must refer valuation to a Valuation Officer for determination; failure to do so vitiates the assessment. The matter is remitted to the assessing officer for de novo adjudication after obtaining a DVO report; grounds allowed for statistical purposes. en-us Fri, 30 Jan 2026 00:00:00 +0530 Mon, 02 Feb 2026 08:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785886 Where immovable property is acquired for consideration less than the stamp duty value, the excess of stamp duty value over consideration is assessable as income under section 56(2)(vii)(b); that excess is chargeable under the head income from other sources. If the assessee disputes the stamp duty valuation on grounds matching the tests in section 50C(2), the assessing officer must refer valuation to a Valuation Officer for determination; failure to do so vitiates the assessment. The matter is remitted to the assessing officer for de novo adjudication after obtaining a DVO report; grounds allowed for statistical purposes. Case-Laws Income Tax Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785886