https://www.taxtmi.com/caselaws?id=785650 The text addresses applicability of Section 56(2)(x) to a stamp duty valuation difference where the land was maintained as stock-in-trade. It notes a precedent holding Section 56(2)(x) inapplicable to purchases of stock-in-trade, and records that the balance sheet showed the land under current assets rather than capital assets, supporting stock-in-trade classification. Revenue findings on period and mode of acquisition were absent and financial statements were unaudited. Given these factual lacunae, the matter was remitted to the assessing officer for fresh adjudication on classification and valuation. en-us Tue, 16 Dec 2025 00:00:00 +0530 Sat, 24 Jan 2026 13:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785650 The text addresses applicability of Section 56(2)(x) to a stamp duty valuation difference where the land was maintained as stock-in-trade. It notes a precedent holding Section 56(2)(x) inapplicable to purchases of stock-in-trade, and records that the balance sheet showed the land under current assets rather than capital assets, supporting stock-in-trade classification. Revenue findings on period and mode of acquisition were absent and financial statements were unaudited. Given these factual lacunae, the matter was remitted to the assessing officer for fresh adjudication on classification and valuation. Case-Laws Income Tax Tue, 16 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785650