Taxability of Real Estate transactions

FMV ascertained by DVO
• No addition can be made only on the basis
of FMV of the asset acquired but
• Addition can be made u/s 69B in case
inference can be drawn on the basis of
material on record that the assessee has
invested more amount
• Addition to the stated consideration made
u/s 69B held to be valid & the finding of
ITAT regarding value of the property upheld
being a finding of fact
Smt Amar Kumari Surana v. CIT (1996) 89 Taxman 544
(Raj)