https://www.taxtmi.com/caselaws?id=794407 For section 56(2)(x), cancellation of an original property allotment extinguishes the rights under that allotment; where a different flat is subsequently allotted and a later agreement is registered, valuation is linked to the later transaction rather than the cancelled allotment date. Where the taxpayer specifically disputes the stamp duty valuation and supports the objection with a valuation report, a reference to the Departmental Valuation Officer should precede determination of the taxable difference. The valuation issue then requires verification and recomputation after allowing an opportunity of hearing. en-us Tue, 30 Jun 2026 00:00:00 +0530 Sat, 04 Jul 2026 08:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794407 For section 56(2)(x), cancellation of an original property allotment extinguishes the rights under that allotment; where a different flat is subsequently allotted and a later agreement is registered, valuation is linked to the later transaction rather than the cancelled allotment date. Where the taxpayer specifically disputes the stamp duty valuation and supports the objection with a valuation report, a reference to the Departmental Valuation Officer should precede determination of the taxable difference. The valuation issue then requires verification and recomputation after allowing an opportunity of hearing. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794407