https://www.taxtmi.com/caselaws?id=262393 The Tribunal partly allowed the assessee's appeal. The addition of Rs. 25 lakh under section 56(2)(vi) of the Income Tax Act was in favor of the assessee, as the amount received was returned with profits and did not result in a benefit to the assessee. Regarding the second issue of adding Rs. 45,513 as the estimated ALV of a vacant property, a compromise was reached to reduce the valuation to Rs. 30,000 from the initial amount. en-us Wed, 17 Dec 2014 00:00:00 +0530 Thu, 06 Aug 2015 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262393 The Tribunal partly allowed the assessee's appeal. The addition of Rs. 25 lakh under section 56(2)(vi) of the Income Tax Act was in favor of the assessee, as the amount received was returned with profits and did not result in a benefit to the assessee. Regarding the second issue of adding Rs. 45,513 as the estimated ALV of a vacant property, a compromise was reached to reduce the valuation to Rs. 30,000 from the initial amount. Case-Laws Income Tax Wed, 17 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262393