https://www.taxtmi.com/caselaws?id=385964 The Tribunal held that the provisions of Section 56(2)(vii)(b) and Section 69B of the Income Tax Act were not applicable. The addition of Rs. 28.65 crores was deleted, and the appeal of the assessee was allowed. The judgment emphasized that family settlements among relatives do not constitute transfers and are not taxable under the specified provisions. en-us Mon, 16 Sep 2019 00:00:00 +0530 Wed, 18 Sep 2019 09:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385964 The Tribunal held that the provisions of Section 56(2)(vii)(b) and Section 69B of the Income Tax Act were not applicable. The addition of Rs. 28.65 crores was deleted, and the appeal of the assessee was allowed. The judgment emphasized that family settlements among relatives do not constitute transfers and are not taxable under the specified provisions. Case-Laws Income Tax Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385964