https://www.taxtmi.com/caselaws?id=463937 The ITAT, Mumbai allowed the appeal and set aside the CIT(A)'s finding that invoked section 56(2)(v) for a claimed right to receive a flat free of cost. The tribunal held the assessee had not received any immovable property and that a mere right to obtain property in the assessment year concerned does not constitute a sum of money taxable under s.56(2)(v) (the relevant amendment being effective from 01.10.2009). The addition was deleted and the issue decided in favour of the assessee. en-us Fri, 19 Jul 2019 00:00:00 +0530 Tue, 23 Sep 2025 19:05:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463937 The ITAT, Mumbai allowed the appeal and set aside the CIT(A)'s finding that invoked section 56(2)(v) for a claimed right to receive a flat free of cost. The tribunal held the assessee had not received any immovable property and that a mere right to obtain property in the assessment year concerned does not constitute a sum of money taxable under s.56(2)(v) (the relevant amendment being effective from 01.10.2009). The addition was deleted and the issue decided in favour of the assessee. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463937