{
  "id": 5352131,
  "title": "Couple buys Rs 60L flat, husband taxed on Rs 34.81L stamp-duty gap; ITAT objects",
  "url": "https://urgent.news/2026/09/03/couple-buys-rs-60l-flat-husband-taxed-on-rs-34-81l-stamp-duty-gap",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T14:50:01.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/business/india-business/couple-bought-flat-jointly-for-rs-60-lakh-stamp-value-was-rs-94-81-lakh-taxman-added-entire-rs-34-81-lakh-gap-to-husbands-income-why-itat-said-its-not-justified/articleshow/133739300.cms"
  },
  "original_language": "en",
  "account": "A Mumbai husband and wife jointly purchased a flat in 2017 for Rs 60 lakh. However, the stamp-duty value of the property was assessed at Rs 94.8 lakh, creating a Rs 34.8 lakh difference. Initially, the Income Tax Department taxed the entire Rs 34.8 lakh difference on the husband's income, claiming the wife's case had \"escaped scrutiny.\" The husband appealed to the Income Tax Appellate Tribunal (ITAT) Mumbai, arguing that joint ownership did not make one co-owner solely responsible for the tax on the difference between purchase price and stamp-duty value. The ITAT ruled in favor of the taxpayer, stating that the tax officer could not have added the entire Rs 34.8 lakh difference to the husband's income while ignoring his joint ownership with his wife. The husband also requested a departmental valuation officer review, which should have been considered before assigning the entire difference to his income. The ITAT set aside the appellate order and sent the matter back to the Income Tax officer for further review.",
  "summary": "Can the entire difference between a property’s actual purchase price and its stamp-duty value be added to the income of just one of its co-owners? A recent ruling by ITAT Mumbai has addressed this question in a case involving a husband and wife who jointly purchased a property.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}