https://www.taxtmi.com/caselaws?id=389693 The Tribunal allowed the appeal, ruling that the payment to the agreement holder was a legitimate part of the cost of acquisition, crucial for the property purchase to proceed. As the appellant had paid more than the market value determined by the Registration Department, no income addition was warranted under Section 56(2)(vii) of the Income-tax Act, 1961. The Tribunal set aside the lower authorities' orders, deleting the disputed amount addition, emphasizing the importance of the payment to the agreement holder in determining the property's cost and rejecting the income addition under the Act. en-us Fri, 25 Oct 2019 00:00:00 +0530 Sat, 14 Dec 2019 14:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389693 The Tribunal allowed the appeal, ruling that the payment to the agreement holder was a legitimate part of the cost of acquisition, crucial for the property purchase to proceed. As the appellant had paid more than the market value determined by the Registration Department, no income addition was warranted under Section 56(2)(vii) of the Income-tax Act, 1961. The Tribunal set aside the lower authorities' orders, deleting the disputed amount addition, emphasizing the importance of the payment to the agreement holder in determining the property's cost and rejecting the income addition under the Act. Case-Laws Income Tax Fri, 25 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389693