NIRAJ AGARWAL,KOLKATA vs. ITO, WARD 6(1),, KOLKATA

ITA 1320/KOL/2026Status: DisposedITAT Kolkata25 September 2026AY 2024-20257 pages
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What did the Tribunal hold?

The Tribunal held that the stamp value cannot be substituted as sales consideration without referring the matter to the DVO. The DVO's report for co-owners valued the property at ₹1,74,84,000/-.

What were the facts?

The assessee purchased property along with co-owners for a consideration of ₹1,35,12,847/-, while the stamp value was ₹4,15,38,746/-. The AO treated the difference as deemed income under Section 56(2)(x) without referring to the DVO.

What were the issues?

Whether the difference between the sale consideration and stamp duty value of a property can be added as deemed income without a reference to the DVO, and if so, what is the correct valuation.

Which sections of the Income-tax Act were involved?

Section 56(2)(x)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, KOLKATA

For Appellant: Ms. Sweta Mukherjee, AR
For Respondent: Shri Pradeep Dung Dung, DR
Hearing: 15.07.2026Pronounced: 25.09.2026

Per Rajesh Kumar, AM:

This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 30.03.2026 for the AY 2024-25. 2. The only issue raised by the assessee before us is against the order of Ld. CIT (A) confirming the addition of ₹93,25,300/- u/s 56(2)(x) of the Act on account of difference between the purchase consideration of property at ₹135,62,847/- and the stamp value of ₹4,15,38,746/-.

3.

After hearing the rival contentions and perusing the materials available on record, we find that in this case the assessee is Niraj Agarwal; A.Y. 2024-25 engaged in the business of trading of stainless-steel products and file

The order continues below.

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