https://www.taxtmi.com/caselaws?id=759485 Section 56(2)(x) did not apply to acquisition of the tenancy rights because the arrangement gave only a right to occupy premises on payment of rent and did not transfer ownership or any transferable interest in immovable property. On that legal footing, stamp duty valuation could not be used to sustain the addition. The tenancy rights were therefore not treated as acquisition of property for the impugned tax charge, and the addition was deleted in favour of the assessee. en-us Fri, 27 Sep 2024 00:00:00 +0530 Wed, 02 Oct 2024 20:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759485 Section 56(2)(x) did not apply to acquisition of the tenancy rights because the arrangement gave only a right to occupy premises on payment of rent and did not transfer ownership or any transferable interest in immovable property. On that legal footing, stamp duty valuation could not be used to sustain the addition. The tenancy rights were therefore not treated as acquisition of property for the impugned tax charge, and the addition was deleted in favour of the assessee. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759485