As per the memorandum of  family settlement (MFS) the assessee had acquired Bungalow at New Delhi, due to relinquishment of rights in said property by three brothers of assessee for Rs.NIL. AO brought to tax  the   consideration that property had been purchased by assessee from brothers for Rs. 12 crore and there being difference of Rs. 28 crore, in stamp value determined by Registrar for this property  made addition of difference under S. 56(2)(vii)(b) of the Act. CIT (A) confirmed the addition .  On appeal the  Appellate Tribunal held that  in pursuance of Family Settlement, assessee and his three brothers had distributed various properties among themselves and necessary rights and title were transferred in favour of each brother which would show that parties had entered into genuine transaction . Further, release deed was also executed, in which it was nowhere recorded that assessee paid any consideration to his other three brothers. The Appellate Tribunal held that there being no commercial transaction in distribution of property, provisions of S. 56(2)(vii)(b) were not attracted. (AY.2015-16 )