No Section 56 Addition as Property Value Difference Was Within 10% Tolerance Band

Manjit Singh Baxisingh Dev Vs INT Tax (ITAT Mumbai) In Manjit Singh Baxisingh Dev Vs INT Tax, the Income Tax Appellate Tribunal (ITAT), Mumbai, considered issues relating to condonation of delay, addition under Section 56(2)(vii)(b), indexation of cost of acquisition, and addition under Section 69 of the Income Tax Act for Assessment Year 2015-16. The assessee filed an appeal against the order passed under Section 144C(5) of the Income Tax Act. The appeal before the Tribunal was delayed by 113 days because the assessee had initially filed the appeal before the Commissioner of Income Tax (Appea...