MANSUKH CHIMANLAL CHAUHAN,MUMBAI vs. ITO, WARD-22(2)(1), MUMBAI

ITA 2740/MUM/2026Status: DisposedITAT Mumbai30 June 2026AY 2018-198 pages
AI SummaryRemanded

What were the facts?

The assessee purchased an immovable property for Rs. 78,00,000/-, while the stamp duty valuation was Rs. 1,08,43,500/-. The Assessing Officer (AO) made an addition of the difference under Section 56(2)(x)(b)(B). The assessee contended that the property was booked earlier at a lower value and provided a valuation report, but the AO did not refer the matter to the Departmental Valuation Officer (DVO).

What did the Tribunal hold?

The Tribunal held that the original allotment was cancelled, and the subsequent transaction was a fresh one, rejecting the plea to consider the 2012 valuation. However, it found merit in the alternative contention that the AO should have referred the matter to the DVO when a valuation report was furnished and the stamp duty valuation was disputed.

What were the issues?

Whether the stamp duty valuation as on the date of the original allotment should be considered, and whether the AO erred in not referring the matter to the DVO upon receiving a valuation report and dispute of stamp duty value.

Which sections of the Income-tax Act were involved?

Section 56(2)(x)(b)(B),Section 250,Section 143(3),Section 144B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI

Before: SHRI OM PRAKASH KANT & SHRI ANIKESH BANERJEE

Per: Anikesh Banerjee (JM): The instant appeal of the assessee filed against the order of the NFAC, Delhi [for brevity the “Ld. CIT(A)”], order passed under section 250 of the Income Tax Act 1961 (for brevity ‘the Act’) for Assessment Year 2018-19, date of order 27.02.2026. The impugned order emanated from the order of the National E-Assessment Centre, Delhi (for brevity the ‘Ld. AO’) order passed under section 143(3) r.w.s. 144B of the Act

The order continues below.

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