https://www.taxtmi.com/caselaws?id=797551 Section 56(2)(x) applies only where an assessee receives land, a building, or an independently identifiable immovable-property right during the relevant year. A supplementary agreement modifying building plans under a pre-existing property arrangement does not trigger the provision where it neither transfers fresh immovable property nor creates an additional independent proprietary right. Absence of additional consideration supported the conclusion that no qualifying receipt occurred. Stamp duty valuation is relevant only after receipt of qualifying immovable property is established and cannot independently bring the transaction within section 56(2)(x). Accordingly, the addition based solely on the supplementary agreement's stamp duty valuation was deleted. en-us Mon, 17 Aug 2026 00:00:00 +0530 Mon, 24 Aug 2026 08:33:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797551 Section 56(2)(x) applies only where an assessee receives land, a building, or an independently identifiable immovable-property right during the relevant year. A supplementary agreement modifying building plans under a pre-existing property arrangement does not trigger the provision where it neither transfers fresh immovable property nor creates an additional independent proprietary right. Absence of additional consideration supported the conclusion that no qualifying receipt occurred. Stamp duty valuation is relevant only after receipt of qualifying immovable property is established and cannot independently bring the transaction within section 56(2)(x). Accordingly, the addition based solely on the supplementary agreement's stamp duty valuation was deleted. Case-Laws Income Tax Mon, 17 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797551