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In the case of Jayantilal Umashankar Chavji vs. National E Assessment Centre, the ITAT Mumbai ruled in favor of the assessee regarding the valuation of an under-construction property, which was adjusted due to increased GST rates. The Tribunal found that such adjustments do not attract Section 56(2)(x) as they fall within the acceptable variation limits. Consequently, the addition made by the Assessing Officer and upheld by the CIT(A) was set aside, allowing the assessee

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