https://www.taxtmi.com/caselaws?id=434399 The Tribunal allowed the appeal, determining that the transfer of a plot to the assessee constituted a gift completed before the retrospective effect of Section 56(2)(vii)(b) of the Income Tax Act. The Tribunal emphasized the importance of the primary gift deed executed before 01.10.2009 over subsequent transfer documents, rejecting the AO's classification of the transaction as a deemed gift/income. The Tribunal upheld the voluntary nature of the transfer, considering all supporting documents as part of a single transaction and concluding that the addition under Section 69 of the Act was unjustified. en-us Tue, 21 Feb 2023 00:00:00 +0530 Wed, 22 Feb 2023 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434399 The Tribunal allowed the appeal, determining that the transfer of a plot to the assessee constituted a gift completed before the retrospective effect of Section 56(2)(vii)(b) of the Income Tax Act. The Tribunal emphasized the importance of the primary gift deed executed before 01.10.2009 over subsequent transfer documents, rejecting the AO's classification of the transaction as a deemed gift/income. The Tribunal upheld the voluntary nature of the transfer, considering all supporting documents as part of a single transaction and concluding that the addition under Section 69 of the Act was unjustified. Case-Laws Income Tax Tue, 21 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434399