2025 (1) TMI 810

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.... passed under Section 250 of the Income-tax Act, 1961 [hereinafter referred to as "the Act" for short], for Assessment Year (AY) 2014-15. 2. The assessee has taken following grounds of appeal:- "1. The learned CIT(A) has erred in law and facts in upholding the order of A.O. not accepting the plea made by the assessee during the course of scrutiny proceedings u/s 143(3) r.w.s. 263 that the stamp duty paid was on higher side due to technical issues with stamp authorities. 2. The learned CIT(A) has erred in law and facts in not considering the ground of the appeal against addition of Rs. 21,42,857/- made as income from other sources u/s 56(2)(vii)(b) being 1/3 share of the assessee on the ground of discrepancy and stamp du....

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....56(2)(vii)(b) of the Act which led to under assessment of income by Rs. 21,42,857/-. Subsequently, the assessment was completed u/s 143(3) r.w.s. 263 of the Act on 12.12.2019 making addition of Rs. 21,42,857/- u/s 56(2)(vii)(b)(ii) of the Act. 5. Aggrieved by the order of the Assessing Officer, the assessee filed appeal before the Ld. CIT(A) who dismissed the appeal of the assessee. 6. Aggrieved, the assessee is now in appeal before the Tribunal. 7. Before us, Ld. AR submitted that, * The assessee has paid stamp duty of Rs. 23,70,550/- (Rs. 20,50,550 plus Rs. 3,15,000) at the time of registration of stamp duty. The market value is being calculated by capitalizing stamp duty payment at 4.90 percentage and accordingly the ma....