SEc. 43CA and Tolerance limit

Assessee is partnership engaged in business of developing of Housing Project. In the A.Y. 2016-17 has offered the income as per sales consideration received however the A.O. has assessed the income by invoking the provisions of Sec. 43CA  and made the addition difference between the sale consideration and Stamp duty valuation. Also made reference to the DVO, his report came after the assessment and DVO also valued the  FMV of the units sold and now the difference between the sales and value as per DVO is less than 10% in all cases except 2 cases where the difference is about…

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