Pay Income Tax if Land Purchased below Stamp Duty : ITAT
Held The Revenue’s contention is that the provisions of Section 56(2)(vii)(b) talks about any immoveable property and thus even an agriculture land falls under the definition of an immoveable property and the provisions of Section 56(2)(vii)(b) are clearly attracted. On reading of provisions of 56(2)(vii)(b), we find that it refers to any immoveable property and… Read More »