https://www.taxtmi.com/caselaws?id=468578 Section 56(2)(vii) did not apply to a flat purchase where the agreement was executed before 1 April 2014 and substantial consideration had already been paid through banking channels. The statutory scheme recognised the agreement date, rather than the later registration date, for stamp duty valuation where part of the consideration was paid by non-cash mode on or before that date. On the facts, the payment records supported the assessee's case, the Assessing Officer's cost basis was found incorrect, and the addition could not stand without a proper valuation reference. The addition was therefore deleted. en-us Mon, 03 Feb 2025 00:00:00 +0530 Wed, 13 May 2026 21:06:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468578 Section 56(2)(vii) did not apply to a flat purchase where the agreement was executed before 1 April 2014 and substantial consideration had already been paid through banking channels. The statutory scheme recognised the agreement date, rather than the later registration date, for stamp duty valuation where part of the consideration was paid by non-cash mode on or before that date. On the facts, the payment records supported the assessee's case, the Assessing Officer's cost basis was found incorrect, and the addition could not stand without a proper valuation reference. The addition was therefore deleted. Case-Laws Income Tax Mon, 03 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468578