No Tax on Old Deal done prior to enactment of law: ITAT Rules Section 56(2)(x) Cannot Apply Retrospectively In a significant ruling protecting taxpayers from retrospective taxation, the Tribunal in Rinki Singh (ITA No. 56/Ran/2025) has held that Section 56(2)(x) cannot be invoked where the original property purchase agreement predates the provision, even if the sale deed…
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