accordingly, the valuation is
higher than the assessee's set forth value.
4. The Ld.AR relied on the order ... forth
value and value adopted by the DVO amount to Rs.1,66,99,000/-. The difference
is exactly 25% higher than the set forth
which pertains to the difference
between the registered value and the set forth value of Flat No. 904, Wing-H,
Octacrest, Kandivali East, Mumbai ... addition of Rs.97,72,517/-, being the difference between the set forth
value and the stamp duty valuation of the property
satisfied that the sale value is reasonable which in turn requires verification of the value of each independent asset. He also referred ... agreement which reads as under :
"(F) As set forth in the MOU, PAL and AP agreed that subject to the terms and conditions
Dcit - 1 (1) (2), Mumbai vs Forbes & Company Ltd., Mumbai on 17 March, 2023
difference of Rs.9,04,37,500/- between the set forth
value and the stamp duty value. The issue was referred ... 2024
NRB Developers
the DVO's valuation and the set forth value, amounting to Rs.81,19,625/-, was
considered for addition
under section 56(2)(x) of the Act towards difference in set-forth
value and the value adopted by the Registrar on purchase of property
registered with the Joint Sub-
Registrar, Mumbai City-3 and the set forth value of the said property was Rs.60
lakhs whereas the Stamp ... 2024
Ashokkumar Premchand Jain
at Rs.53,60,000/-. Accordingly, the set-forth value was determined at Rs.60 lakhs.
The copy of the valuation
difference of Rs.9,04,37,500/- between the set forth
value and the stamp duty value. The issue was referred ... 2024
NRB Developers
the DVO's valuation and the set forth value, amounting to Rs.81,19,625/-, was
considered for addition
vacated &the matter be set aside to the table
of the Assessing Officer.
4. The appellant craves leave to add, amend, alter or delete ... difference with the
market value and the set forth value of the properties. For these three flats, the
ld.CIT(A) remanded back for verification
less than the stamp duty value by an amount exceeding
fifty thousand rupees, the portion of the stamp duty value exceeding such consideration shall ... addition of
Rs.59,87,000/-, representing the difference between the set forth value and the
stamp duty value, cannot be sustained in the impugned
