https://www.taxtmi.com/caselaws?id=308049 The Tribunal held that allotment letters should be considered as "agreement to sell" for the purposes of Section 56(2)(x) of the Income Tax Act. The Tribunal directed the Assessing Officer to reassess the stamp duty valuation based on the date of the allotment letters and make a decision after providing the assessee with an opportunity to be heard. The appeal of the assessee was allowed, and the case was remanded back to the AO for further proceedings. en-us Tue, 31 Jan 2023 00:00:00 +0530 Thu, 25 May 2023 22:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308049 The Tribunal held that allotment letters should be considered as "agreement to sell" for the purposes of Section 56(2)(x) of the Income Tax Act. The Tribunal directed the Assessing Officer to reassess the stamp duty valuation based on the date of the allotment letters and make a decision after providing the assessee with an opportunity to be heard. The appeal of the assessee was allowed, and the case was remanded back to the AO for further proceedings. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308049