Tribunal held  that the pre-amended provisions of S. 56(2)(vii)(b) of the Act, applied where an individual or Hindu undivided family received from any person any immovable property without consideration. The provisions were however substituted by the Finance Act, 2013 and made applicable to assessment year 2014-15 onwards. According to the amended provisions, the scope of the substituted provision was expanded to cover purchase of immovable property for inadequate consideration as well. The purchase transactions of immovable property were carried out in the financial year 2011-12 for which full consideration was also parted with to the seller. Mere registration at a later date would not cover a transaction already executed in the earlier years and in respect of which substantial obligations had already been discharged and a substantive right had accrued to the assessee therefrom. The pre-amended provisions were applicable and the Department was debarred to cover the transactions where inadequacy in purchase consideration was alleged.  Tribunal directed the AO to delete the additions made under S.56(2)(viib) of the Act. (AY.2014-15)