TaxTMI 
TaxTMI 
2011 (4) TMI 935
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....sp; Area Cost Rate per sa.m. Relating to land at_______ M/s. Skyline constructions 600 sq.mtrs Rs.92,03,220 15,338  ....
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....re and value reflected in mortgage deed Rs.2 cr, the AO concluded that assessee had made an explained investment. - On the basis of the rate of Rs.28,500 of fully constructed industrial building in Malad reflected in the Stamp Duty Ready Reckoner, the AO made an addition of Rs. 2,25,92,287 under sec.69B (Market value @Rs.28,500 - Rs.3,64,80,000 less cost disclosed - Rs.1,38,87,713 = Rs.2,25,92287/-. 3. On further appeal before the Ld. CIT (A), the Ld. CIT (A) held as follows: "I have duly considered the submissions of the A. R. and I find that the appellant has explained the sources of purchase of TDR. The addition made by the A.O. is on account ofvaluation of TDR at market rate of buildings as per ready rec....
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....in this respect, please find enclosed copy of information called for and received U/s 133(6) of the Act from office of the ft. Sub Registrar, Borivali Registration Officer, Borivali, in respect of the market value and the stamp duty paid on the same regarding TDR purchased on property bearing CTS No. 1068/C. As is evident on a perusal of the same, it is seen that the market value of the TDR is shown to be Rs. 2,00,00,000/- on which stamp duty of Rs.1,00,000/- has been paid which amounts to 0.5% of the market value. You are given an opportunity to explain the discrepancy between the amount declared by you and the amount shown in the stamp valuation as described above and also to give reasons as to why the difference be not treated as unexpla....