How many judgments cite CIT v. Ashaland Corporation?

44 judgments on BharatTax cite CIT v. Ashaland Corporation (133 ITR 55), spanning 2017 to 2025.

Which sections of the Income Tax Act does CIT v. Ashaland Corporation come up under?

It is most often cited in judgments turning on Section 132(4A), Section 143(3), Section 22, Section 24(1), Section 292C, Section 69A.

CIT v. Ashaland Corporation

133 ITR 55High Court1982#2673 most cited

What is CIT v. Ashaland Corporation authority for?

Income from the sale of immovable property, including any 'on-money' component, is taxable only when the sale is complete, marked by the execution and registration of the sale deed and/or transfer of possession to the buyer.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2025.

Also referred to as

CIT v. Ashaland Corporation · 133 ITR 55 · Section 45(2) Income Tax Act · developer profit taxability · on-money income tax · sale deed registration date · transfer of immovable property timing · project completion method · income recognition real estate · Section 53A Transfer of Property Act

Also reported as

7 Taxmann 39323 CTR 307

Sections most often in play

Section 132(4A)Section 143(3)Section 22 Section 24(1)Section 292C Section 69A Section 132(1)Section 142(1)

Issues it is cited on

section 24(1)section 45(2)project completion method house property income section 153(a)annual value audi alteram partem right to receive on-money section 53a section 53 dumb documents

Judgments citing CIT v. Ashaland Corporation

The ACIT, Circle-2, Bharuch vs. Mansi Realty Pvt. Ltd., Bharuch

In the result, the appeal of the revenue is dismissed

ITA 540/AHD/2016[2011-12]Status: DisposedITAT Surat13 Dec 2019AY 2011-12

Bench: Shri Sandeep Gosain & Shri O.P.Meenaआ.अ.सं./I.T.A No.540/Ahd/2016 िनधा"रणवष"/Assessment Year: 2011-12 Assistant Commissioner Vs. M/S. Mansi Realty Pvt. Ltd., Of Income Tax, Circle-2, Garden City, Nr. Gidc, Behind Bharuch – 392 001. Momaina Nagar, Kosamdi, Valia Road, Ankleshwar, Dist-Bharuch, Bharuch – 393 002. [Pan: Aagcm 6053 L] अपीलाथ" / Appellant ""यथ"/Respondent Shri Sapnesh Sheth, Ca िनधा"रतीक"ओरसे /Assessee By Shri Srinivas T. Bidari, Cit(D.R.) राज"वक"ओरसे /Revenue By 10.12.2019 सुनवाईकीतारीख/ Date Of Hearing: उ"ोषणाक"तारीख/Pronouncement On: 13.12.2019

Section 131Section 133ASection 143

…Page 13 of 15 CIT (A) has taking a judicial view after taking into consideration of various decision of Hon’ble Gujarat High Court and other High Court as well as tribunal. We find that the Hon’ble Gujarat High Court in the case of CIT V. Ashland Corporation 133 ITR 55 and in CIT v. Motilal C Patel & Company 173 ITR 666 held that it is settled law that no addition no addition can be made purely based on statement recorded during survey. Further, the Hon’ble Gujarat High Court in the case of DCIT 10. V. Panna Corporation [Tax Appeal No. 323 and 325 of 200 dated 16.06.2012] 74 DTR 89 held that it has been consist…

The Asstt. Commissioner of Income Tax, Circle-1(2), Surat vs. M/S. Samruddhi Corporation, Surat

In the result, cross appeals of Revenue as well as Assessee are dismissed

ITA 3390/AHD/2016[2009-10]Status: DisposedITAT Surat17 Jul 2019AY 2009-10

Bench: Shri H.S. Sidhu & Shri O.P. Meenaassessment Year: 2009-10 Samruddhi Corporation, Vs. The Deputy Commissioner Of Megh Dhwani Complex, Income Tax, Circle-1(2), City Light Road, Surat – 395007. Surat. [Pan: Aaofm 5334 M] (Appellant) (Respondent) Assessment Year: 2009-10 The Deputy Commissioner Of Income Vs. Samruddhi Corporation, Tax, Circle-1(2), Surat. Megh Dhwani Complex, City Light Road, Surat – 395007. [Pan: Aaofm 5334 M] (Appellant) (Respondent)

Section 1Section 139(1)Section 143(2)Section 143(3)Section 147Section 148

…ed has not executed and the amount received from the above parties only represented advance and the same was not taxable as no income was accrued to the assessee. In view of the Hon'ble Gujarat High Court decision in the case of CIT vs. Asha Land Corporation [133 ITR 55 (Guj)]. The Authorised Representative of the assessee filed detailed reply which the Assessing Officer mentioned in the assessment order. After considering the reply filed by the assessee as well as the books of accounts the Assessing Officer has decided the legal issue against the assessee as well as they do not accept the contention raised by th…

M/S. Samriddhi Corporation, Surat vs. The Dy.CIT., Circle-1(2), Surat

In the result, cross appeals of Revenue as well as Assessee are dismissed

ITA 3035/AHD/2016[2009-10]Status: DisposedITAT Surat17 Jul 2019AY 2009-10

Section 1Section 139(1)Section 143(2)Section 143(3)Section 147Section 148

ITO 3(1)(2), Mumbai vs. Devkant Synthetics (India) P.Ltd, Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1742/MUM/2015[2008-09]Status: DisposedITAT Mumbai03 Feb 2017AY 2008-09

Bench: Shri B.R. Baskaran (Am) & Shri Ravish Sood(Jm)

Section 131

…Mun family would lead to an actual sale of shares or whether the reversal of the advance as also the re-transfer of shares would lead to they not being treated as sale. In this context, while rendering its decision in the case of C1T v. Ashaland Corporation (133 ITR 55), the Hon'ble Gujarat High Court had observed as follows. A transaction which may or may not ultimately result, in complete sale ..... is no transaction at all for the purpose of working out profit. Receipt of some amount would assume the character of income or profit only when the sale transaction is completed in accordance with law." From a pla…