Sec. 263 Revision Justified as AO Failed to Invoke Sec. 69 With Sec. 56(2)(x) on Undervalued Property | ITAT
Judiciary and Counsel Details Bench Members: Representation: Case Background The case revolves around the purchase of immovable properties by the assessee, where discrepancies arose between the actual sale consideration and the value determined by the Stamp Valuation Authority (SVA). The Assessing Officer (AO) added the entire value determined by the SVA under section 56(2)(x) of…