https://www.taxtmi.com/caselaws?id=794145 Section 56(2)(x) can apply to the purchase of rights in a room or tenement in an MHADA leasehold building where consideration is below stamp duty value; reliance on section 50C is inapposite because that provision is confined to capital gains computation, while section 56(2)(x) governs receipt of immovable property for inadequate consideration more broadly. On valuation, the matter calls for fresh examination with a Departmental Valuation Officer report, and the addition must then be recomputed after hearing the assessee. The statutory applicability was upheld, but the valuation aspect was remitted for de novo determination. en-us Tue, 28 Apr 2026 00:00:00 +0530 Wed, 01 Jul 2026 08:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794145 Section 56(2)(x) can apply to the purchase of rights in a room or tenement in an MHADA leasehold building where consideration is below stamp duty value; reliance on section 50C is inapposite because that provision is confined to capital gains computation, while section 56(2)(x) governs receipt of immovable property for inadequate consideration more broadly. On valuation, the matter calls for fresh examination with a Departmental Valuation Officer report, and the addition must then be recomputed after hearing the assessee. The statutory applicability was upheld, but the valuation aspect was remitted for de novo determination. Case-Laws Income Tax Tue, 28 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794145