KANWALDEEP KAUR,CHANDIGARH vs. DCIT, CIRCLE 1, CHANDIGARH

ITA 89/CHANDI/2024Status: DisposedITAT Chandigarh24 April 2025AY 2017-18Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the stamp duty valuation should be considered as on the date of the original agreement to sell, as substantial payments were made then and the delay in registration was due to legal proceedings. Therefore, no addition could be made under Section 56(2)(vii)(b).

What were the facts?

The Revenue appealed against the deletion of an addition made under Section 56(2)(vii)(b)(ii) concerning the purchase of a property. The addition was based on the difference between the stamp duty value on the date of registration and the purchase price, while the assessee argued for the stamp duty value on the date of the original agreement to sell.

What were the issues?

The key issue was determining the correct date for calculating the stamp duty value for the purpose of Section 56(2)(vii)(b) – the date of the agreement to sell or the date of registration.

Which sections of the Income-tax Act were involved?

Section 56(2)(vii)(b)(ii),Section 147

AI-generated summary — verify with the full judgment below

Heard together (2 matters)

ITA No. 806 /Chd/ 2024
ITA No. 89 /Chd/ 2024

Read from the judgment's own cause title. This page is filed under one of them.

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी लिलत कुमार, "ाियक सद" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. LALIET KUMAR, JM & SHRI. KRINWANT SAHAY, AM आयकर अपील सं. ITA No. 806 /Chd/ 2024 िनधा"रण वष" / Assessment Year : 2017-18 The ITO बनाम Shri Gurtej Singh Mohali House No. 245, Sector 16A, Chandigarh-160062 "ायी लेखा सं./PAN NO: ABZPS6303A अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं. ITA No. 89 /Chd/ 2024 िनधा"रण वष" / Assessment Year : 2017-18 Kanwaldeep Kaur बनाम The DCIT House No. 245, Sector 16A Circle-1, Chandigarh Chandigarh "ायी लेखा सं./PAN NO: AFFPK4564F अपीलाथ"/Appellant ""थ"/Respondent िनधा"रती की ओर से/Assessee by : Shri Yogesh Monga, C.A राज" की ओर से/ Revenue by : Shri Rohit Sharma, CIT DR सुनवाई की तारीख/Date of Hearing : 08/04/2025 उदघोषणा की तारीख/Date of Pronouncement : 24/04/2025 आदेश/Order PER LALIET KUMAR, J.M: These are two appeals filed by the Revenue and the Assessee against the respective orders of the Ld. CIT(A)/NFAC, Delhi dt 30/05/2024 and 27/12/2023 respectively.

2.

Since the appeals were heard together therefore they are being disposed off

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 56(2)(vii)(b)(ii)

All 128 judgments and leading authorities on Section 56(2)(vii)(b)(ii) →

Recent GST High Court judgments

Search GST case law →