Allotment details prevails

The Delhi Bench of the Income Tax Appellate Tribunal, by its order dated 24 July 2026, allowed the assessee's appeal and held that the provisos to Section 56(2)(x) were applicable to the purchase of a house allotted by the Air Force Naval Housing Board. 

The Tribunal directed the Assessing Officer to adopt the stamp duty value prevailing on the date of allotment in 2008 instead of the value on the date of registration in 2017.