Section 56(2)(x) Addition Sent Back as AO Completed Assessment Without DVO Report

Raghvendra Singh Vs ITO (ITAT Kolkata)

Provisional Addition Without DVO Not Sustainable – 56(2)(x) Addition Kept on Hold: Tribunal Sends Case Back for DVO Report

Tribunal noted that Assessee jointly purchased an old dilapidated property for Rs.50 lakhs, of which Assessee’s share was Rs.16 lakhs. AO held that stamp-duty value of Rs.1.73 crore must be adopted for computing difference u/s 56(2)(x)(b) since the value declared was significantly lower. Assessee objected & pointed out several deficiencies such as narrow access, multiple occupants &

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