ISH BHATIA,DELHI vs. ITO, DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2017-18
arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2025-26/10758867882(1) dated 29.04.2025, in proceedings u/s 147 of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
It emerges during the course of hearing that both the learned lower authorities have invoked section 56(2)(x) of the Act to add the difference between the assessee’s actual purchase price of Rs.9,00,000/- and stamp value of the relevant capital asset of Rs.19,10,000/-, amounting to Rs.10,10,000/-, as income from “other” sources. Ish Bhatia
2
4. That being the case, the Revenue could hardly dispute the clinching fact that the legislature has inserted clause (x) in section 56(2) in the Act vide
Finance
Act
2017
w.e.f.
01.04.2017 without any retrospective effect as per the relevant
Explanatory Memorandum’s clause 33.6 thereto. It is reiterated that the assessee had acquired the asset in issue on 06.06.2016 only. The impugned section 56(2)(x) addition is deleted in very term therefore.
This assessee’s appeal is allowed. Order Pronounced in the Open Court on 24/12/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 24/12/2025
*Subodh Kumar, Sr. PS*