IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A No.6738/Mum/2025 (Assessment Year: 2018-19)

Date of hearing : 24/12/2026 Date of pronouncement : 07/01/2026 O R D E R Per: Anikesh Banerjee (JM):

The instant appeal of the assessee preferred against the order of the NFAC, Delhi [for brevity, ‘Ld.CIT(A)’] order passed under section 250 of the Income-tax Act, 1961 (for brevity, ‘the Act) for the Assessment Year 2018-19, date of order 26/08/2025. The impugned order emanated from the order of the National e- Assessment Centre, Delhi (for brevity, ‘the Ld.AO’) order passed u/s 143(3) r.w.s.

143(3A) and 143(3B) of the Act, date of order 10/04/2021.

2. The brief facts of the case are that the assessee individual capacity filed the return. During the impugned assessment year assessee with the joint ownership with her husband booked flat for A.Y. 2016-17 through a letter of allotment dated 21.04.2016 issued by the Builder, “M/s. Tridhhaatu Construction Pvt. Ltd”. The agreement of sale was duly registered on 23.08.2017 and the stamp duty valuation of the property was taken by the Ld. AO for F.Y. 2017-18 related AY 2018-19. The assessee has booked the flat by paying the account pay cheque and transaction made through banking channel. The assessee purchased the said flat with joint ownership with amount of Rs.4.5 crore. But during the impugned assessment year the stamp duty valuation of the property was Rs.4,55,55,939/-. So the difference amount of Rs.5,55,939/- was treated as the contravention of section 56(2) of the Act. Considering the 50% share of the assessee, half of the amount of Rs.5,55,939/- which comes to Rs.2,70,970/- was added back with the total income of the assessee. The aggrieved assessee filed an appeal before the Ld. CIT(A). The assessee has taken plea that the said property was duly allotted on assessment year 2017-18 and the ready reckoner value of the said property was Rs.4,19,98,028/- and the Ld. AO should adopt the valuation in the year when the flat was allotted. So, the valuation adopted for AY 2018-19 is against the statute. Accordingly, the adoption of the ready reckoner value for the F.Y. 2016-17 related to A.Y. 2017-18 is the correct implication of the Act. The Ld. AR further stated that difference of stamp duty value of and the set forth value is lesser than the 10% so addition is illegal U/s 56(2) of the Act. But without considering the same the Ld. CIT(A) rejected the appeal of the assessee. Being aggrieved assessee filed an appeal before us.

3. The Ld. AR argued and filed a paper book which is containing page 1 to 187 which is placed on record. The Ld. AR contended that the assessee had allotted the flat by an allotment letter dated 21.04.2016 related to F.Y. 2016-17. The copy of the allotment letter is annexed in APB page 71 to 73. He further stated that the details calculation of ready reckoner value amount to Rs.4,19,98,028/- for 2016 was duly submitted before the Ld. AO and copy of the letter is annexed in APB page 129 to 130. He further stated that the agreement of sale was duly executed in impugned assessment year but the assessee had made the entire payment through banking channel during allotement of the said flat. So, the value of the falt is applicable only related to the assessment year 2017-18.

4. He further argued that entire issue was duly submitted before the revenue authorities. The Ld. AO has taken note the assessee’s submission in the impugned assessment order. The relevant paragraph of the assessment order paragraph-8 is reproduced as below:

“8. The reply of the assessee has been considered and found