ITAT rules tax officer cannot pin entire stamp-value gap on one co-owner
The Mumbai bench of the Income Tax Appellate Tribunal ruled that a tax officer cannot impose the entire stamp-value gap on one co-owner of a property. In a case involving a couple who purchased a flat for ₹60 lakh, the tribunal emphasized that ownership shares must be respected and that the tax officer should have referred the valuation dispute to a departmental officer. This ruling impacts how property buyers address stamp-duty valuations.