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Section 43CA addition cannot stand without DVO valuation
Case Law Details
- Case Name
- Grace Suburban Development Venture Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
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Grace Suburban Development Venture Vs ITO (ITAT Mumbai)
Addition u/s 43CA on difference in sale consideration & stamp duty valuation cannot be sustained without DVO reference when specifically requested- Mumbai ITAT
In this appeal, Assessee, a builder & developer, challenged the order passed by CIT(A). The dispute arose from addition of Rs. 4,97,378/- made by AO u/s 43CA on account of difference between sale consideration shown in the agreement & the value adopted by Stamp Valuation Authority in respect of a flat.
Assessee contended that the flat was agreed to be s...
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