Income from other sources u/s 56(2)(vii) - ancestral property ...

Case Laws Income Tax

June 2, 2021

Income from other sources u/s 56(2)(vii) - ancestral property transaction - property was already acquired on power of attorney from the original/legal owners - it is opined by the CIT(A) that the land was not a fresh purchase. Hence, deleted the additions raised in view of the provisions u/s 56(2)(vii)(b) - Order of CIT(A) confirmed - AT

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Income from other sources u/s 56(2)(vii) - ancestral property ...

Case Laws Income Tax

June 2, 2021

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