Stamp Value Less than Agreement Value: ITAT Deletes Addition u/s 56(2)(vii)(b) of Income Tax Act [Read Order]

Stampvalue- agreement - value - ITAT Deletes Addition - ITAT - TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the additions made under Section 56(2)(vii)(b) of the Income Tax Act 1961 holding that the stamp value was less than the agreement value. The Appellant, Shilpa Gautam, was a non-resident individual and did not file return of income for the Assessment Year 2016-17. Based…

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