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 ₹31.80 lakhs exceeded the prescribed limits, AO invoked u/s 56(2)(x) & made an addition without referring the matter to the Departmental Valuation Officer (DVO). CIT(A) upheld the addition.
On appeal, Tribunal observed that reference to DVO is a mandatory safeguard before making such addition. Since AO failed to obtain DVO’s report, the assessment was vitiated. Considering also that the Assessee had furnished his own registered valuer’s report dated 28.01.2025, Tribunal set aside the addition & remanded the matter to AO with directions to call for DVO’s report & reframe the assessment afresh.
FULL TEXT OF THE ORDER OF ITAT GUWAHATI
This appeal is preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 22.05.2024 for the A.Y. 2018-19.
