Addition u/s 56(2)(vii) being the difference between value ...

Court Upholds Tax Assessment on Property Transactions u/s 56(2)(vii)(b)(ii) of Income Tax Act; No Relief for Assessee.

December 29, 2018

Case Laws Income Tax AT

Addition u/s 56(2)(vii) being the difference between value mentioned in the Conveyance Deed and the stamp duty value of Immovable properties - This is not the assessee’s case that his four transactions are in any way covered in the last proviso. No reason to interfere with the lower authorities’ action invoking section 56(2)(vii)(b) clause (ii) of the Act.

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Addition u/s 56(2)(vii) being the difference between value ...

Court Upholds Tax Assessment on Property Transactions u/s 56(2)(vii)(b)(ii) of Income Tax Act; No Relief for Assessee.

December 29, 2018

Case Laws Income Tax AT

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