Section 56(2)(vii)(b) Addition Remanded – ITAT Pune Orders Fresh Assessment on Stock-in-Trade Claim

Vikas Ratanlal Jain Vs ITO (ITAT Pune) Stock-in-Trade Exemption: ITAT Remands Section 56(2)(vii)(b) Addition for Fresh Verification; Stamp Duty Value Dispute Remanded: ITAT Orders Review of F.Y. for Property Purchase Assessment; Incorrect Asset Classification: ITAT Directs Reassessment on Applicability of Section 56(2)(vii)(b); Cost of Acquisition Issue: ITAT Remands Valuation Case to Consider Nazarana and Advance Payments Assessee purchased two plots for consideration lower than stamp duty value, leading AO to make addition of ₹21,00,475/- u/s 56(2)(vii)(b) as “income from other source...