Section 56(2)(vii)(b)(ii): Income Tax Act property definition excludes stock-in-trade, raw materials, or consumable stores for businesses.

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....Addition u/s 56(2)(vii)(b)(ii) - applicability on stock in trade - the definition of property as provided u/s 56(2)(vii) will have application to the ‘property’ which is in the nature of a capital asset of the recipient and therefore would not apply to stock-in-trade, raw material and consumable stores of any business of such recipient....