https://www.taxtmi.com/caselaws?id=431416 The ITAT Mumbai upheld the CIT(A)'s decision to delete the addition under section 56(2)(vii)(b) of the Income Tax Act for the Assessment Year 2014-15. The court emphasized the importance of the date of allotment, the rights acquired by the appellant, and the stamp duty value at the time of agreement in determining the tax implications of the transaction. The Revenue's appeal was dismissed, with peripheral issues raised by the Assessing Officer considered immaterial to the main controversy. en-us Wed, 09 Nov 2022 00:00:00 +0530 Mon, 12 Dec 2022 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431416 The ITAT Mumbai upheld the CIT(A)'s decision to delete the addition under section 56(2)(vii)(b) of the Income Tax Act for the Assessment Year 2014-15. The court emphasized the importance of the date of allotment, the rights acquired by the appellant, and the stamp duty value at the time of agreement in determining the tax implications of the transaction. The Revenue's appeal was dismissed, with peripheral issues raised by the Assessing Officer considered immaterial to the main controversy. Case-Laws Income Tax Wed, 09 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431416