Stamp Value on Date of Agreement on Sale of Property to be considered for Applicability of Section 56(2)(vii)(b) of Income Tax Act: ITAT [Read Order]

Stamp Value on date of agreement on sale of property to be considered for applicability of Section 56(2)(vii)(b) of Income Tax Act, rules ITAT

By Kalyani B. Nair - On March 5, 2024 3:32 pm - 2 mins read

ITAT - ITAT Delhi - Income Tax - Stamp Value - TAXSCAN

The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) held that stamp value on date of agreement on sale of property to be considered for applicability of Section 56(2)(vii)(b) of the Income Tax Act, 1961. The Appellant, a non-resident individual, did not file return of income for the Assessment Year 2014-15…

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