2026 (5) TMI 685

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....s both the appeals are having involved identical issues based on the identical facts and circumstances, therefore, for the sake of brevity, the same were heard together and are being disposed of by this composite order by taking into consideration ITA No.7639/M/2025, being a lead case, and the result of the same would apply mutatis mutandis to both the appeals under consideration. 3. Coming to ITA No.7639/M/2025, we observe that in the instant case, the Assessee has sold various flats on a consideration below than the stamp duty valuation /ready reckoner value, as detailed in para no.3 of the assessment order and therefore, the AO vide assessment order dated 27.12.2017 under Section 143(3) of the Act, made the addition of Rs. 1,18,11,922....

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.... and circumstances of the case and rival submissions of the parties. Before us, the Assessee has also filed a copy of the occupation certificate dated 16.07.2021 issued by the MCGM based on the completion certificate issued by the Architect on dated 12.11.2020, which was admittedly not filed before the authorities below. Further, the Assessee has agitated that the Ld. Commissioner would have considered the stamp duty value, as on the date of allotment letter, and thereafter only would have applied the statutory tolerance band of 10%. Further, the Assessee has already offered the consideration amount received from various purchasers, to tax. Thus, these facts, in our considered view requires to be considered again / afresh, as it is the mand....