27-Nov-2019

Section 56(2)(vii) will have application to the ‘property’ which is in the nature of a capital asset


Income Tax Section 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. Case Name : Shri Satendra Koushik Vs I.T.O. (ITAT Jaipur).

Continue reading All News →