Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Gift of Land in Pune to X Taxable u/s 56(2)(vii) Due to Partnership Firm Not Being a Relative.</h1> X receives a plot of land in Pune as a gift from a partnership firm, which consists of X's father and Mrs. X as the only partners. The stamp duty value of the land is 19,00,000. Under Section 56(2)(vii) of the Income Tax Act, this gift is taxable because the partnership firm itself is not considered a 'relative,' despite X's relatives being partners in the firm.
TaxTMI 
TaxTMI 