https://www.taxtmi.com/caselaws?id=408173 The appellate tribunal upheld the decision of the CIT(A) to allow the assessee's claim of &8377; 2,85,42,477/- under section 56(2)(vii) of the Income Tax Act. The property in question was not considered a fresh purchase but inherited by the appellant, leading to the deletion of the addition under the Act. The tribunal found the CIT(A)'s decision well-founded and dismissed the revenue's appeal on a formal issue, pronouncing judgment on 31/05/2021. en-us Mon, 31 May 2021 00:00:00 +0530 Wed, 02 Jun 2021 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408173 The appellate tribunal upheld the decision of the CIT(A) to allow the assessee's claim of &8377; 2,85,42,477/- under section 56(2)(vii) of the Income Tax Act. The property in question was not considered a fresh purchase but inherited by the appellant, leading to the deletion of the addition under the Act. The tribunal found the CIT(A)'s decision well-founded and dismissed the revenue's appeal on a formal issue, pronouncing judgment on 31/05/2021. Case-Laws Income Tax Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408173