Addition made u/s 56(2)(vii)(b)(ii) on account of purchase of ...

Section 56(2)(vii)(b)(ii) Income Tax Act: No application to property transactions completed in the preceding year.

October 22, 2018

Case Laws Income Tax AT

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 completed in the preceding year then the provisions of Section 56(2)(vii)(b) of the Act cannot be invoked on such transaction

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Addition made u/s 56(2)(vii)(b)(ii) on account of purchase of ...

Section 56(2)(vii)(b)(ii) Income Tax Act: No application to property transactions completed in the preceding year.

October 22, 2018

Case Laws Income Tax AT

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