M/S FIRST STONE,MUMBAI vs ASSISTANT COMMISSINER OF INCOME TAX, MUMBAI

Income Tax Appellate Tribunal, Mumbai “F” Bench, Mumbai.

Before: Smt. Kavitha Rajagopal (JM) & Shri Omkareshwar Chidara (AM)

For Appellant: None

For Respondent: Ms. Kavitha Kaushik

Hearing: 01/10/2025Pronounced: 14/10/2025

Per Omkareshwar Chidara (AM) :-

The appellant firm, in this case, sold four flats during this year less than the market value mentioned in Index II of Stamp Value fixed by State
Government. Hence, the difference between the stamp value and sale agreement was added by Ld. AO under section 43CA of the Income Tax Act, because under that section, the fair market value adopted by the Sub-

M/S FIRST STONE,MUMBAI vs. ASSISTANT COMMISSINER OF INCOME TAX, MUMBAI