NEETU AGNIHOTRI,RAEBARELI vs. INCOMEATAX OFFICER, RAEBARELI

ITA 160/LKW/2026Status: DisposedITAT Lucknow03 June 2026AY 2018-20196 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the DVO's valuation report did not consider crucial factors presented by the assessee regarding the property's condition and location. Consequently, the appellate order of the CIT(A) was set aside.

What were the facts?

The assessee purchased an unfinished godown for Rs. 20,00,000. The DVO valued the property at Rs. 60,30,100, leading to an addition of Rs. 40,30,100 as income from other sources under section 56(2)(x). The assessee contended that the DVO did not consider the unfinished nature, remote location, and lower ground floor status of the property.

What were the issues?

Whether the DVO's valuation report adequately considered the actual condition and marketability of the property, and if the addition made under section 56(2)(x) was justified.

Which sections of the Income-tax Act were involved?

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

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH ‘SMC’, LUCKNOW

Before: SHRI ANADEE NATH MISSHRA

PER ANADEE NATH MISSHRA:A.M.

(A) This appeal has been filed by the assessee against the impugned appellate order of learned CIT(A) / NFAC, Delhi, dated 18.02.2025, for the AY 2018-19. The assessee has raised the following grounds of appeal: “That the appellant purchased unfinished godown situated at lower ground floor on Gata no.764 Village Ahmadpur Nazool Raebareli for Rs.2000000 excluding registration charges at Rs.464080 on 22-03-2018 from Mr. Javed son of Abdul Sattar and his brothers. The photo annexed on registered purchase deed dated 25/03/2018 of godown situated at lower ground floor on Gata no.764 Village Ahmadpur Nazool Raebareli and photo annexed on the valuation report dated 09-02-2021 issued by registered Income tax val

The order continues below.

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