Purchase value vs. District Valuation Officer's value differed <10%. Transacted amount within tolerance limit. No addition warranted u/s 56(2)(x)(b)(B)(ii).

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount within tolerance limit. Assessee eligible for benefit of 10% margin difference in valuation between value determined by stamp duty authority and declared sale consideration. If variation between two values within 10% range, no addition warranted u/s 56(2)(x)(b)(B)(ii). Since variation 9.14%, no addition tenable. Addition by Assessing Officer deleted. Ground allowed.....