https://www.taxtmi.com/caselaws?id=468431 Section 56(2)(vii)/(x) did not sustain an addition on a redevelopment transaction where the assessee surrendered the existing flat and received a new flat in exchange, because the relevant year's provision covered only receipts without consideration and the later inadequate-consideration limb could not be applied retrospectively. Treating the stamp duty value of the entire new flat as free receipt ignored the value of the surrendered rights in the old flat. For the separately purchased additional area, the record showed that the consideration paid was not less than the relevant stamp duty value. No addition was therefore sustainable for either the redeveloped portion or the additional area. en-us Tue, 02 Dec 2025 00:00:00 +0530 Tue, 05 May 2026 10:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468431 Section 56(2)(vii)/(x) did not sustain an addition on a redevelopment transaction where the assessee surrendered the existing flat and received a new flat in exchange, because the relevant year's provision covered only receipts without consideration and the later inadequate-consideration limb could not be applied retrospectively. Treating the stamp duty value of the entire new flat as free receipt ignored the value of the surrendered rights in the old flat. For the separately purchased additional area, the record showed that the consideration paid was not less than the relevant stamp duty value. No addition was therefore sustainable for either the redeveloped portion or the additional area. Case-Laws Income Tax Tue, 02 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468431