9911796707
TMI Blog2024 (10) TMI 245X X X X Extracts X X X X X X X X Extracts X X X X ..... purpose of levy of stamp duty - AO added the difference sum as property purchased by the assessee for inadequate consideration by applying provisions of section 56(2)(x) - HELD THAT:- The assessment was completed by the AO on 21.09.2022 as it was getting time barred by 30.09.2022. AO even made an observation that since the report of DVO was not received before the completion of assessment, he has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 56(2)(x) of the Act. Hence, the addition is hereby deleted. Appeal of the assessee is allowed. - Shri M. Balaganesh, Accountant Member And Shri Vimal Kumar, Judicial Member For the Assessee : Shri Mayank Mohanka, CA For the Revenue : Shri Om Parkash, Sr. DR ORDER PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.901/Del/2024 for AY 2020-216, arises out of the order of the National Faceless A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion activities. During the year under consideration, the assessee company earned interest income only. The return of income for assessment year 2020-21 was filed by the assessee company on 28.12.2021 declaring total income of ₹ 2,13,430/-. The assessee purchased agricultural land in Khata No. 00143, Salarpur, Tehsil- Dadri, Noida UP on 19.12.2019 for ₹ 60,57,000/- and incurred stamp du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 21.09.2022 as it was getting time barred by 30.09.2022. The ld AO even made an observation in para 6 of his order that since the report of DVO was not received before the completion of assessment, he has proceeded to make an addition of ₹ 80,08,700/- and the order would be subjected to rectification u/s 155(15) of the Act after the receipt of report. It is not in dispute that the DVO rep ..... X X X X Extracts X X X X X X X X Extracts X X X X
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