Agreement Vs. Stamp Duty Value : ITAT discusses Scope of exception to section 56(2)(vii)(b)(ii)

Joseph Mudaliar Vs DCIT (ITAT Mumbai) Addition u/s 56(2)(vii)(b) on difference in value in respect of the subject properties where declared sale consideration shown by the assessee is lesser than the stamp duty value (market value) determined by the stamp duty authority Addition u/s 56(2)(vii)(b). The difference in value in respect of the subject properties where declared sale consideration shown by the assessee is lesser than the stamp duty value (market value) determined by the stamp duty authority The scope of exception to section 56(2)(vii)(b)(ii) is considered and Difference between secti...