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![Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order] Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Section-562vii-not-Applicable-to-Individual-Receiving-Sum-from-HUF-as-its-Member-ITAT-TAXSCAN.jpg)
Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Surat Bench, has recently, in an appeal filed before it, held that section 56(2) (vii) is not applicable to...



![Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order] Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Fair-market-value-determined-by-registered-valuers-for-computation-of-taxable-value-should-not-be-ignored-ITAT-TAXSCAN.jpg)
![Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order] Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Treatment-of-Booking-Advances-Unexplained-Cash-Credits-ITAT-quashes-Disproportionate-Addition-Addition-ITAT-Co-Owners-of-Land-Income-Tax-taxscan.jpg)

![No Addition during Reassessment once Genuineness of Transaction is Proven: ITAT [Read Order] No Addition during Reassessment once Genuineness of Transaction is Proven: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-during-Reassessment-once-Genuineness-of-Transaction-is-Proven-ITAT-TAXSCAN.jpg)
![Order cannot be treated as “Erroneous” If PCIT thinks that “the Order should have been Written More Elaborately”: ITAT Quashes Revision [Read Order] Order cannot be treated as “Erroneous” If PCIT thinks that “the Order should have been Written More Elaborately”: ITAT Quashes Revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Order-Erroneous-PCIT-ITAT-Revision-Income-Tax-Taxscan.jpg)
![No Deemed Registration if Income Tax Department Not Deciding Registration Application u/s 12AA within a Period of Six Months: ITAT [Read Order] No Deemed Registration if Income Tax Department Not Deciding Registration Application u/s 12AA within a Period of Six Months: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Deemed-Registration-Income-Tax-Department-Registration-Application-ITAT-TAXSCAN.jpg)
![Genuine Claim of Loss of Documents due to Flood: ITAT Allows TDS Credit [Read Order] Genuine Claim of Loss of Documents due to Flood: ITAT Allows TDS Credit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Genuine-Claim-Loss-of-Documents-Flood-ITAT-TDS-Credit-TDS-taxscan-.jpg)
![Income Tax Deduction under Sec 80 IB allowable even If Goods were not manufactured by own plant and machinery: ITAT [Read Order] Income Tax Deduction under Sec 80 IB allowable even If Goods were not manufactured by own plant and machinery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-Tax-deduction-section-80-IB-plant-and-machinery-ITAT-taxscan.jpeg)
![Deduction u/s 80IA (iv) Computed with respect to each Unit Independently, without Clubbing Loss of another Unit: ITAT [Read Order] Deduction u/s 80IA (iv) Computed with respect to each Unit Independently, without Clubbing Loss of another Unit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Deduction-Unit-ITAT-taxscan.jpg)
![TDS Credit disallowed without verifying fact is not sustainable: ITAT [Read Order] TDS Credit disallowed without verifying fact is not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/TDS-credit-ITAT-taxscan.jpeg)
![Unregistered Document has No Evidentiary Value: ITAT upholds Denial of Capital Gain Exemption u/s 54 [Read Order] Unregistered Document has No Evidentiary Value: ITAT upholds Denial of Capital Gain Exemption u/s 54 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/ITAT-Capital-Gain-Exemption-taxscan.jpeg)