Income Tax Act Section 56(2)(vii)(b) Applied to Property Transfer on March 31, 2013; Valuation Discrepancy Validated.

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....Addition u/s 56(2)(vii)(b) - difference between Stamp duty Valuation and purchase consideration as per registered sale deed of immovable property - whether on date of transfer of immovable property i.e. on 31-03-2013, provisions of Sec. 56(2)(vii)(b) were not in force? - Held No - AT....