Stamp Duty Value Addition on Property Set Aside for Natural Justice Breach

Sanjeev Kumar Vs ITO (ITAT Chandigarh) The Chandigarh Bench of the Income Tax Appellate Tribunal Chandigarh considered an appeal challenging the confirmation of an addition made on account of the difference between stamp duty value and actual purchase consideration under section 56(2)(vii)(b) of the Income-tax Act. The assessee contended that the appellate order was passed in violation of section 250, without granting a reasonable opportunity of being heard, and that the actual purchase value of the property was genuine. It was also argued that both the Assessing Officer and the first appellat...