Allotment Date Stamp Value Applies u/s 56(2)(x), Not Registration Value Where Prior Cheque Payment Made – ITAT Mumbai

Cherie Tandon Saldahna Vs DCIT (ITAT Mumbai)

Allotment Date Stamp Value Applicable u/s 56(2)(x) – Registration Value Cannot Be Adopted Where Consideration Paid Earlier by Cheque – ITAT Mumbai

AO made addition u/s 56(2)(x) on purchase of flat by adopting stamp duty value on date of registration and treated difference of ₹1.14 Cr as income. Assessee contended that flat was allotted in 2011, full consideration paid through banking channel before allotment and hence stamp value on allotment da

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