ITAT Deletes Rs 8.56 Lakh Addition, Holds Same Property Cannot Have Different Valuations for Joint Owners:

ITAT deleted the Rs 8.56 lakh addition under Section 56(2)(vii)(b), holding that the DVO’s valuation of the jointly purchased property matched the actual purchase price.

DVO Finds Property Value at Rs 21.30 Lakh

Saloni Kumari

Sep 1, 2026

Last update on Aug 31, 2026

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ITAT Deletes Rs 8.56 Lakh Addition, Holds Same Property Cannot Have Different Valuations for Joint Owners

ITAT deleted the Rs 8.56 lakh addition under Section 56(2)(vii)(b), holding that the DVO’s valuation of the jointly purchased property matched the actual purchase price.

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Saloni Kumari

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Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].