https://www.taxtmi.com/caselaws?id=466469 First and second provisos to section 56(2)(x) apply to the valuation dispute, so stamp duty value must be measured as of the allotment letter date rather than the sale deed registration date. The tribunal accepted that an allotment letter can constitute an agreement for sale and held the Assessing Officer erred by using SRO stamp duty at registration; the Commissioner (Appeals) was also unjustified in confirming the addition. The matter is restored to the AO to compare sale consideration with SRO stamp duty value as on the allotment letter date and proceed under section 56(2)(x) after hearing the assessee. en-us Thu, 27 Feb 2025 00:00:00 +0530 Mon, 09 Feb 2026 13:27:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466469 First and second provisos to section 56(2)(x) apply to the valuation dispute, so stamp duty value must be measured as of the allotment letter date rather than the sale deed registration date. The tribunal accepted that an allotment letter can constitute an agreement for sale and held the Assessing Officer erred by using SRO stamp duty at registration; the Commissioner (Appeals) was also unjustified in confirming the addition. The matter is restored to the AO to compare sale consideration with SRO stamp duty value as on the allotment letter date and proceed under section 56(2)(x) after hearing the assessee. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466469