Applicability of section 56 on disputed property as purchased ...

Income Tax

December 21, 2023

Applicability of section 56 on disputed property as purchased from relative - Additions u/s 56(2)(x) - since the assessee has purchased the land from the ‘relative’ and the said contention was duly supported by the genealogical tree, and the said fact has also already been examined by the AO, thus, in our considered opinion, the order of the Pr. CIT deserves to be quashed. - AT

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Applicability of section 56 on disputed property as purchased ...

Income Tax

December 21, 2023

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