2025 (3) TMI 2056

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...., CA For the Respondent : Mr. A.Sasikumar,CIT ORDER PER GEORGE GEORGE K, VICE PRESIDENT: This appeal at the instance of the assessee is directed against Addl/Joint Commissioner of Income Tax(A)-1, Ahmedabad, order dated 09.01.2025, passed under section 250 of the Income Tax Act, 1961 (hereinafter called 'the Act'). The relevant Assessment Year is 2017-18. 2. The solitary issue is wh....

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.... paid by the assessee and stamp duty value amounting to Rs. 8,80,000/- was brought to tax u/s.56(2)(viib) of the Act. It is to be mentioned that during the course of assessment proceedings, the assessee has objected to adoption of stamp duty value as the consideration paid by him for the purchase of flat on 30.10.2016. The assessee had claimed that flat was purchased by him is an old apartment and....

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....d a copy of valuation report. Therefore, addition of Rs. 8,80,000/- u/s.56(2)(viib) of the Act is to be confirmed, subject to modification as per valuation determined by the DVO. 5. Aggrieved by the order of CIT(A), the assessee has filed present appeal before the Tribunal. The learned AR submitted that as on today, assessee has not received any notice from the DVO. It was submitted by the lear....

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....at DVO has not given the valuation report as on today. The AO completed the assessment by bringing to tax the difference amount between consideration paid and stamp duty value / guideline value amounting to Rs. 8,80,000/- u/s.56(2)(viib) of the Act. It is a fact that assessee during the course of assessment proceedings had strongly objected to adoption of purchase consideration at Rs. 73,80,000/-,....