SHYAMSUNDER BANSIDHAR REENGUSIA,GHATKOPAR (EAST) vs. INCOME TAX OFFICER WARD 26(1)(1), MUMBAI, BANDRA (EAST)

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ITA 5585/MUM/2025Status: DisposedITAT Mumbai31 August 2026AY 2018-1911 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the AO and CIT(A) were not justified in adding the entire difference to the assessee's income, ignoring the joint ownership. It was also found that the request to refer the valuation to the DVO was not heeded. The matter was restored to the AO for reference to the DVO.

What were the facts?

The assessee purchased an immovable property jointly with his wife. The stamp duty valuation of the property was higher than the agreement value, leading to a difference which the AO sought to tax under Section 56(2)(x)(b). The assessee argued that the addition should be proportionate to his ownership share and that the valuation should be referred to the DVO.

What were the issues?

Whether the entire difference between stamp duty value and agreement value can be taxed in the hands of one co-owner, and whether reference to the DVO is mandatory when the valuation is disputed.

Which sections of the Income-tax Act were involved?

Section 56(2)(x)(b),Section 50C(2),Section 147

AI-generated summary — verify with the full judgment below

Before: SHRI SANDEEP GOSAIN & SHRI PRABHASH SHANKAR

For Appellant: Shri Gopal Sharma and Ms. Vaibhavi Bhagat,ARs
For Respondent: Shri Rajgopal Parthasarathi,Sr. DR
Hearing: 30.06.2026Pronounced: 31.08.2026

आदेश की प्रतितलति अग्रेतिि/Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant 2. प्रत्यर्थी / The Respondent. 3. आयकर आयुक्त / CIT

P a g e | 11 ITA No. 5585/Mum/2025 A.Y. 2018-19 Shyamsunder Bansidhar Reengusia 4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT, Mumbai 5. गार्ड फाईल / Guard file. सत्यावपि प्रवि //True Copy// आदेशानुसार/ BY ORDER,

उि/सहायक िंजीकार (Dy./Asstt. Registrar) आयकर अिीलीय अतधकरण/ ITAT, Bench, Mumbai.

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