ITAT directs AO to consider  stamp duty value on  date of Letter of Allotment for making addition u/s  56(2)(vii)(b) I.T Act [Read Order]

ITAT - AO - stamp duty - Letter of Allotment - I.T Act - ITAT directs AO to consider stamp duty value - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed the Assessing Officer (AO) to consider the stamp duty value on the date of the letter of allotment for making additions under section 56(vii)(b) of the Income Tax Act, 1961. After filing the return of income, the assessee, Rekha Singh, had her case selected for scrutiny….

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