https://www.taxtmi.com/caselaws?id=286439 Section 56(2)(vii)(b) was applied to an immovable property purchase where the Tribunal found the operative acquisition date to be the registered agreement for sale executed in 2014, not the earlier allotment letter and advance payment in 2012. It treated the 2012 amount as earnest money and concluded that the flat was received under the 2014 agreement, so the difference between stamp duty value and stated consideration remained taxable. Authorities cited by the assessee were distinguished on their facts, and the addition was sustained. en-us Mon, 10 Jun 2019 00:00:00 +0530 Wed, 26 Feb 2020 10:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286439 Section 56(2)(vii)(b) was applied to an immovable property purchase where the Tribunal found the operative acquisition date to be the registered agreement for sale executed in 2014, not the earlier allotment letter and advance payment in 2012. It treated the 2012 amount as earnest money and concluded that the flat was received under the 2014 agreement, so the difference between stamp duty value and stated consideration remained taxable. Authorities cited by the assessee were distinguished on their facts, and the addition was sustained. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286439