https://www.taxtmi.com/caselaws?id=308048 The Tribunal allowed the appeal filed by the assessee, deleting the addition made under Section 56(2)(vii)(b) and the disallowance of interest expenses. The Tribunal emphasized the importance of the letter of allotment as a binding agreement and applied the proviso to Section 56(2)(vii)(b)(ii) in favor of the appellant. The appeal was allowed, and the order was pronounced in the open court on 5th September 2022. en-us Mon, 05 Sep 2022 00:00:00 +0530 Thu, 25 May 2023 22:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308048 The Tribunal allowed the appeal filed by the assessee, deleting the addition made under Section 56(2)(vii)(b) and the disallowance of interest expenses. The Tribunal emphasized the importance of the letter of allotment as a binding agreement and applied the proviso to Section 56(2)(vii)(b)(ii) in favor of the appellant. The appeal was allowed, and the order was pronounced in the open court on 5th September 2022. Case-Laws Income Tax Mon, 05 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308048