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Income Tax - Highlights / Catch Notes

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Addition u/s 56(2)(vii)(b) - receipt of property through general ...


Section 56(2)(vii)(b): No Tax on Property Received via Power of Attorney Without Consideration, Recipient Not Owner.

April 24, 2019

Case Laws     Income Tax     AT

Addition u/s 56(2)(vii)(b) - receipt of property through general power of attorney without consideration - it cannot be said that the assessee received the property as owner and was liable to pay the tax on the stamp duty value of the said property

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