SIMAL PRASAD (ALIAS BIMAL PRASAD),DARJEELING vs. I.T.O., WARD - 3(2), KOLKATA, KOLKATA

order : April 17, 2023 आदेश / ORDER संजय गग�, �या�यक सद�य �वारा / Per Sanjay Garg, Judicial Member: The captioned appeal has been preferred by the assessee against the order dated 03.01.2023 of the National Faceless Appeal Centre [hereinafter referred to as the ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’ 2. The sole issue involved, in this appeal, is relating to the value of the property purchased by the assessee vide registered deed dated 24.07.2014. The Assessing Officer noted that the assessee as per the said deed has paid only a sum of Rs.5,42,500/-, whereas, the market value of the property was at Rs.15,70,800/-. He, therefore, invoked the provisions of section 56(2)(vii)(b) and added the difference of the consideration mentioned in the sale deed as compared to the market value as undisclosed sale consideration of the property.