Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Addition u/s 56(2)(vii)(b)(ii) - applicability on stock in trade ...

Case Laws     Income Tax

July 6, 2019

Addition u/s 56(2)(vii)(b)(ii) - applicability on stock in trade - the definition of property as provided u/s 56(2)(vii) will have application to the ‘property’ which is in the nature of a capital asset of the recipient and therefore would not apply to stock-in-trade, raw material and consumable stores of any business of such recipient

View Source

 


 

You may also like:

  1. Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased...

  2. Addition u/s 56 - difference amount of stamp duty value and purchase value - Whether such agriculture land falls in the definition of capital asset u/s 2(14) or whether...

  3. Purchase of two industrial plots of land - addition as Income from other sources u/s 56(2)(vii)(b)(ii) - the fact that the proviso is applicable in the instant case does...

  4. Addition u/s 56(2)(vii)(b)(ii) - FMV of property - The events subsequent to the transaction of “transfer” of the immovable property under consideration will have no...

  5. Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...

  6. Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction...

  7. Addition u/s 56(2)(vii) - real owners - partners v/s firm - property purchased by assessee-partner less than guideline value of the property - applying purposive...

  8. Revision u/s 263 - applicability of provisions of section 56(2)(vii)(b)(ii) - purchase of shops on less than stamp valuation - record clearly reveal that the AO has...

  9. Addition u/s 50C r.w.s. 56(2)(vii) (b) - the buyer of the property - The Tribunal (ITAT) ruled that since the assesses were buyers, Section 50C did not apply, and...

  10. Addition u/s 56(2)(vii)(b) - valuation of land purchased by assessee - deemed gift under section 56(2)(vii)(b)(ii) - Assessee submitted that, actual deed could not be...

  11. Addition u/s. 56(2)(vii) - Applicability for properties which are under construction? - AO mechanically applied provisions of section 56(2) to bring he difference...

  12. Addition u/s 56(2)(vii)(b) - purchase of immovable property - difference amount between the consideration paid by the assessee and the Sub Registrar Office (SRO in...

  13. Addition u/s 56(2)(vii)(b) - AO referred the valuation of property to Valuation Cell and DVO - difference between the DVO value and consideration paid for purchase of...

  14. Addition invoking the provisions of section 56(2)(vii)(b)(ii) - just because the said colony or flat is adjacent to a road, which has a higher guideline value, the...

  15. Addition made u/s 56(2)(vii)(b)(ii) on account of purchase of immovable property - inadequate consideration - Once the transaction of purchase of property in question is...

 

Quick Updates:Latest Updates