https://www.taxtmi.com/caselaws?id=468668 Where the proviso to section 56(2)(x) applies, the relevant property value must be determined with reference to the date fixed by that proviso, not a later valuation date used in assessment. Here, earnest money had been paid in December 2017, but the assessment relied on a DVO valuation as of March 2020. Because that mismatch affected the basis of the addition, the existing valuation could not be treated as conclusive. The matter was therefore sent back for fresh valuation with reference to December 2017, giving the assessee partial relief. en-us Thu, 06 Feb 2025 00:00:00 +0530 Fri, 15 May 2026 20:34:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468668 Where the proviso to section 56(2)(x) applies, the relevant property value must be determined with reference to the date fixed by that proviso, not a later valuation date used in assessment. Here, earnest money had been paid in December 2017, but the assessment relied on a DVO valuation as of March 2020. Because that mismatch affected the basis of the addition, the existing valuation could not be treated as conclusive. The matter was therefore sent back for fresh valuation with reference to December 2017, giving the assessee partial relief. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468668