2025 (2) TMI 1586

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....evenue : Shri Ram Krishn Kedia, Sr.DR ORDER PER B.R. BASKARAN, A.M : The appeal of the assessee is directed against the order dated 14-11-2024 passed by the Ld.CIT(A)-52, Mumbai and it relates to the Assessment Year (AY.) 2018-19. The assessee is aggrieved by the decision of Ld CIT(A) in confirming the addition of Rs. 46,05,930/- made by the AO u/s 56(2)(x) of the Income Tax Act, 1961 ("t....

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....urchasers as per prevailing custom. In support of this submission, the Ld A.R took us through the record of her husband. We notice that the assessee's husband‟s case was taken up for scrutiny by the AO, who had raised specific query on the purchase of immovable properties. The assessee's husband has replied that the above said property was purchased by him. He had also furnished details of w....

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....used the record. The impugned addition has been made u/s 56(2)(x) of the Act, being the difference between the stamp duty value of property and the actual purchase consideration. From the facts narrated by the Ld A.R, we notice that the entire purchase consideration has been paid by assessee's husband only. He has declared the same as his own property in his Balance Sheet and also before his Asses....