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2018 (5) TMI 1080 - AT - Income TaxAddition u/s 56(2)(vii)(b) - difference between Stamp duty Valuation and purchase consideration as per registered sale deed of immovable property @ 8% share of the appellant - whether on date of transfer of immovable property i.e. on 31-03-2013, provisions of Sec. 56(2)(vii)(b) were not in force? - Held that:- The transfer was effected on the date on which the document was copied out in the books of Registrar will not be date of transfer. In this case, stamp papers were purchased on or before 30.03.2013 transferor and transferee both put signature on the sale deed on 30.03.2013. Therefore, in our considered opinion, Section 56(2)(vii)(b) of Income Tax Act will not be applicable in case of the appellant. - Decided in favour of assessee
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