https://www.taxtmi.com/highlights?id=54788 Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased in the name of the assessee is not a ‘’capital asset’’ as per provisions of Section 2(14) of the Act and it is not covered by the definition of ‘’property’’ given in Explanation to Section 56(2)(vii)(b) - Additions deleted - AT en-us Wed, 16 Sep 2020 13:47:36 +0530 Wed, 16 Sep 2020 13:47:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54788 Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased in the name of the assessee is not a ‘’capital asset’’ as per provisions of Section 2(14) of the Act and it is not covered by the definition of ‘’property’’ given in Explanation to Section 56(2)(vii)(b) - Additions deleted - AT Highlights Income Tax Wed, 16 Sep 2020 13:47:36 +0530 https://www.taxtmi.com/highlights?id=54788