Upgrade to AI Search ✕

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

Section 56(2)(vii)(b): No Tax on Property Received via Power of Attorney Without Consideration, Recipient Not Owner.

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....Addition u/s 56(2)(vii)(b) - receipt of property through general power of attorney without consideration - it cannot be said that the assessee received the property as owner and was liable to pay the tax on the stamp duty value of the said property....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Section 56(2)(vii)(b): No Tax on Property Received via Power of Attorney Without Consideration, Recipient Not Owner.