Small Valuation Difference Within Tolerance Band: Section 69B Addition Deleted

Kiran Agarwal Vs ITO (ITAT Jodhpur) Small Valuation Difference Within Tolerance Band: Addition Under Section 69B Deleted The Jodhpur Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of ₹71,193 made under section 69B for AY 2017-18, holding that a minor difference in valuation of a residential house property was fully covered by the statutory tolerance band of 10% under section 50C. The Tribunal noted that the CIT(A) had upheld the addition in a summary manner, without properly appreciating the legal position or the factual material already on record. On merits, the ITAT...