Stamp Duty vs Actual Value Dispute: ITAT Orders DVO Valuation

Suruchi Satish Sarmalkar Vs ITO (ITAT Mumbai) The assessee purchased property for ₹79 lakh, whereas the stamp duty value was ₹1.07 crore, leading to an addition of ₹28.07 lakh under Section 56(2)(x). The CIT(A) upheld the addition. Before the ITAT, the assessee produced a private valuer’s report valuing the property at ₹76.48 lakh. Since there was a significant variation between stamp value and actual/valuer value (beyond permissible tolerance), the Tribunal held that proper valuation was required through the Departmental Valuation Officer (DVO). Accordingly, the matter was remanded ...