https://www.taxtmi.com/caselaws?id=797596 A delayed conveyance fulfilling a promoter's pre-existing statutory and contractual obligation does not constitute a fresh receipt of immovable property for inadequate consideration under section 56(2)(x). Where flat purchasers and the co-operative society had long possessed, occupied and beneficially enjoyed the completed building, the subsequent conveyance merely regularised and perfected legal title by transferring outstanding reversionary and leasehold interests. Settlement consideration paid to resolve intervening disputes, without evidence of unaccounted consideration, a colourable arrangement, or receipt of commercially distinct property in the relevant year, does not make the stamp duty value differential taxable as income. en-us Tue, 18 Aug 2026 00:00:00 +0530 Tue, 25 Aug 2026 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797596 A delayed conveyance fulfilling a promoter's pre-existing statutory and contractual obligation does not constitute a fresh receipt of immovable property for inadequate consideration under section 56(2)(x). Where flat purchasers and the co-operative society had long possessed, occupied and beneficially enjoyed the completed building, the subsequent conveyance merely regularised and perfected legal title by transferring outstanding reversionary and leasehold interests. Settlement consideration paid to resolve intervening disputes, without evidence of unaccounted consideration, a colourable arrangement, or receipt of commercially distinct property in the relevant year, does not make the stamp duty value differential taxable as income. Case-Laws Income Tax Tue, 18 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797596