Section 43CA Relief for Marginal Variations: ITAT Mumbai Applies 10% Tolerance Retrospectively and Orders DVO Reference

Harish Hari Gandhi Vs ACIT (ITAT Mumbai) Section 43CA Relief for Marginal Variations: ITAT Mumbai Applies 10% Tolerance Retrospectively and Orders DVO Reference The Mumbai Bench “E” of the ITAT partly allowed the appeal of Harish Hari Gandhi (AY 2017-18) and granted substantial relief from additions made under section 43CA on sale of flats by a real-estate developer. The Assessing Officer had made an addition of ₹18.57 lakh on the ground that the agreement value of three flats (Nos. 705, 502 and B-703) was lower than the stamp-duty value. The CIT(A) confirmed the addition by holding that...