Letter of Allotment can not be considered as agreement to sale. Addition u/s 56(2)(vii)(b) upheld
July 1, 2019
Income Tax, ITAT
Letter of Allotment can not be considered as agreement to sale by any stretch of imagination. ITAT upheld addition u/s 56(2)(vii)(b) of the Income Tax Act. ABCAUS Case Law Citation: ABCAUS 3042 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties: Babulal Shambhubhai Rakholia v. ACIT …