ITAT Mumbai Mandates DVO Reference in Valuation Disputes

Clipped from: https://taxguru.in/income-tax/itat-mumbai-mandates-dvo-reference-valuation-disputes.html

Fakhruddin T. Malik Vs ITO (ITAT Mumbai)

Addition u/s 56(2)(vii)(b)(ii) – difference between the stamp duty value and the agreement value of two residential flats purchased by the assessee – not referring the valuation matter to the Departmental Valuation Officer (“DVO”) despite the assessee’s request, ITAT Mumbai decision in Fakhruddin T. Malik vs ITO, Ward-21(1)(5), Mumbai (ITA No. 6555/MUM/2024, dated 16.05.2025)

Fact: The assessee, an individual, filed his return declaring income of ₹2,43,890. During scrut

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