No Section 56(2)(x) Tax on Redevelopment Flat Without Possession: ITAT Mumbai

Snchalata Heramb Dhayagude Vs Jurisdictional AO (ITAT Mumbai) Section 56(2)(x) Cannot Apply Because No Immovable Property Was Actually Received During the Year; No Tax Under Section 56(2)(x) Because Right to Future Flat Is Not Equal to Receipt of Property; Redevelopment Flat Not Taxable Under Section 56(2)(x) Because Possession Was Not Handed Over; Stamp Duty Value Addition Fails Because Receipt of Alternate Accommodation Had Not Occurred; Section 56(2)(x) Addition Deleted Because Possession Is Essential to Constitute Receipt of Immovable Property; Tax on Redevelopment Accommodation Held Prema...