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Harish Hari Gandhi,Mumbai vs Acit Circle 33(1), Mumbai on 3 February, 2026 cites

Growmore Leasing & Investment Ltd, ... vs Dcit Cen Cir 4(3) Cen Rg 4, Mumbai on 27 December, 2017

9. We have heard the rival submissions and perused the material available on record. In respect of Flat Nos. 705 and 502, we find that the difference between the stamp duty value as on the date of booking and the agreement value is less than 10%, i.e., within the prescribed tolerance limit. Respectfully following the decisions of the Coordinate Bench of the ITAT, Mumbai, in the cases of Gaurav Investment (supra) and Amardeep Constructions (supra), which are squarely applicable to the facts of the present case, we hold that the additions of Rs.1,07,375/- and Rs.4,66,668/- are unsustainable and are accordingly deleted. As regards Flat No B-703, we deem it appropriate to restore the matter to the file of the Ld. AO with a direction to consider the assessee's submission that the valuation be ascertained by referring the matter to the DVO. Needless to say, the assessee shall be afforded a reasonable opportunity of being heard. The assessment is thus set aside on this limited issue for fresh adjudication in accordance with law.
Income Tax Appellate Tribunal - Mumbai Cites 19 - Cited by 10 - Full Document

Sai Bhargavnath Infra ,, Pune vs Deputy Commissioner Of Income-Tax, ... on 8 September, 2020

"We also find merit in the reasoning of the Ld. CIT(A) that the tolerance limit of 10% introduced by the Finance Act, 2020 to section 43CA is curative in nature and, therefore, applicable retrospectively. We respectfully considering the order of coordinate bench of ITAT-Pune in Sai Bhargavanath Infra v. Asstt. CIT [2022] 144 taxmann.com 168/197 ITD 496 (Pune - Trib.) that the first proviso of Section 43CA inserted by Finance Act, 2020 with effect from 01.04.2021 is applicable retrospectively. Since the variation between the sale consideration and the stamp duty valuation is only 7%, which is within the permissible tolerance limit, the addition made under section 43CA of the Act is also unsustainable. Accordingly, we uphold the findings of the Ld. CIT(A) in deleting both the additions amount to Rs. 18,45,47,050/- made towards alleged undisclosed profit from the project "Anutham," and the addition of Rs.7,43,474/- made under section 43CA of the Act."
Income Tax Appellate Tribunal - Pune Cites 1 - Cited by 0 - Full Document
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