https://www.taxtmi.com/caselaws?id=436152 ITAT Pune considered whether addition under section 56(2)(vii)(b) on transfer of immovable property was warranted and whether stamp duty value should be taken with reference to an earlier agreement date and payments made before the registered deed. The analysis focused on whether the property was effectively "received" for section 56 purposes and on the operation of the first and second provisos to that provision. The earlier agreement date was not treated as conclusively proved, but payment of additional compensation and sale consideration on 04.10.2014 was regarded as relevant for identifying the operative valuation date. The matter was remitted for recomputation in accordance with the correct date, the statutory provisos, and, if required, DVO valuation. en-us Wed, 08 Feb 2023 00:00:00 +0530 Thu, 06 Apr 2023 08:24:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436152 ITAT Pune considered whether addition under section 56(2)(vii)(b) on transfer of immovable property was warranted and whether stamp duty value should be taken with reference to an earlier agreement date and payments made before the registered deed. The analysis focused on whether the property was effectively "received" for section 56 purposes and on the operation of the first and second provisos to that provision. The earlier agreement date was not treated as conclusively proved, but payment of additional compensation and sale consideration on 04.10.2014 was regarded as relevant for identifying the operative valuation date. The matter was remitted for recomputation in accordance with the correct date, the statutory provisos, and, if required, DVO valuation. Case-Laws Income Tax Wed, 08 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436152