DVO Reference Mandatory in Stamp Duty vs. Purchase Price Disputes

Somen Bhattacharjee Vs ITO (ITAT Guwahati) Stamp Duty Value vs. Purchase Price – Addition u/s 56(2)(x) Remanded for DVO Reference Assessee filed an appeal against the order of NFAC, Delhi dated 22.05.2024. The delay of 60 days in filing the appeal was explained on grounds of non-receipt of the appellate order, need for legal opinion & difficult terrain of Guwahati. Tribunal found the reasons bonafide & condoned the delay. AO noted that Assessee purchased a flat at Matri Apartment, Kolkata for ₹69.00 lakhs, while the stamp duty valuation was ₹1,00,80,000/-. Since the difference of...