https://www.taxtmi.com/caselaws?id=779626 Section 56(2)(vii) was held inapplicable to a conveyance of lease rights, because the deed related to leasehold rights rather than transfer of land and building. The provision was treated as pari materia with section 50C, and the Tribunal noted conflicting non-jurisdictional High Court views on extending such anti-understatement provisions to lease rights. In the absence of binding jurisdictional authority, the interpretative rule favouring the assessee on conflicting views was applied. The addition made on the difference between the purchase price and the stamp valuation was deleted. en-us Mon, 29 Sep 2025 00:00:00 +0530 Thu, 09 Oct 2025 08:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779626 Section 56(2)(vii) was held inapplicable to a conveyance of lease rights, because the deed related to leasehold rights rather than transfer of land and building. The provision was treated as pari materia with section 50C, and the Tribunal noted conflicting non-jurisdictional High Court views on extending such anti-understatement provisions to lease rights. In the absence of binding jurisdictional authority, the interpretative rule favouring the assessee on conflicting views was applied. The addition made on the difference between the purchase price and the stamp valuation was deleted. Case-Laws Income Tax Mon, 29 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779626