Property Purchase Addition Remanded Due to Unverified Agreement Date

Pratish Shah(HUF) Vs ITO (ITAT Surat) Stamp Duty Value as on Date of Agreement to Be Considered — ITAT Surat Remands Section 56(2)(vii)(b) Addition The Surat Bench of the ITAT set aside the orders of the AO and CIT(A) for AY 2018-19 and remanded the matter for fresh verification, holding that where the date of agreement and date of registration differ, the stamp duty value as on the date of agreement must be considered for the purposes of section 56(2)(vii)(b), subject to factual verification. Key observations of the Tribunal: Statutory proviso overlooked: The proviso to section 56(2)(vii)(...