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![Section 56(2)(vii)(b)(ii) Income tax Act will not be apply when property purchased for Business use of Partnership firm: ITAT [Read Order] Section 56(2)(vii)(b)(ii) Income tax Act will not be apply when property purchased for Business use of Partnership firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Income-tax-Act-property-Business-Partnership-firm-ITAT-Income-tax-Act-will-not-be-apply-when-property-taxscan-1.jpg)
Section 56(2)(vii)(b)(ii) Income tax Act will not be apply when property purchased for Business use of Partnership firm: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench held that Section 56(2)(vii)(b)(ii) Income Tax Act , 1961 would not be applied when property...



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