Section 56(2)(vii)(b) of Income Tax Act: Sale Deed Cancellation Nullifies Stamp Duty Valuation Discrepancy Concerns.

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....Additions u/s 56(2)(vii)(b) - purchase of immovable property - difference in value as per stamp duty valuation - since the Sale Deed itself got cancelled vide Cancellation Deed dated 26.02.2013 and the entire sale consideration was repaid to the assessee. Thus the question of invoking Section 56(2)(vii)(b) does not arise - AT....