How can l save paying tax under section 56(2)(vii)(b)

I bought a property lesser than government rate in Maharashtra. I bought it for 71L and add per government value it is for 75L.
Now I already paid higher value on stamp duty and registration as per ready reckoner rate.
Will l still be liable to pay tax under 56(2)(vii)(b) out any other section?
I have added my wife's name and mine on both agreement as well as loan. Her's is the first name and mine is second on both agreement and loan. But her income is not much and pays 5-6 k tax per year and l pay more tax and also all payments and emi will be paid from my account.

Will I get a notice from Income tax department for the difference amount which is 4L? If yes then who will be liable to pay tax, me or my wife? Is there any way by which l can add this amount on my wife's income and not mine so that we will have to pay less tax?
How can l avoid paying more taxes in this situation?

Thanks advance for your help.