Smt. Abha Bansal v. Principal Commissioner of Income-tax

132 Taxmann.com 231High Court2021#2434 most cited

What is Smt. Abha Bansal v. Principal Commissioner of Income-tax authority for?

Compensation received by an assessee upon cancellation of a Builder-Buyer Agreement constitutes a capital receipt and is taxable as capital gains. The Principal Commissioner of Income-tax cannot revise an assessment where the Assessing Officer has correctly treated such compensation as capital gains.

47

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2023 to 2025.

Also referred to as

Smt. Abha Bansal · 132 Taxmann.com 231 · Section 263 · capital gains · compensation · builder-buyer agreement cancellation · capital receipt · revision by PCIT · erroneous and prejudicial · Delhi ITAT

Sections most often in play

Section 143(3)Section 153ASection 153DSection 263Section 132Section 147Section 148Section 80IC

Issues it is cited on

section 44aesection 153(a)revision u/s 263section 80icsection 254(1)section 153dkelvinatorerroneous and prejudicialsection 144asection 65bsection 44asection 254

Judgments citing Smt. Abha Bansal v. Principal Commissioner of Income-tax

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 70/SRT/2022[2018-19]Status: DisposedITAT Surat25 Jan 2023AY 2018-19

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 69/SRT/2022[2017-18]Status: DisposedITAT Surat25 Jan 2023AY 2017-18

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 68/SRT/2022[2016-17]Status: DisposedITAT Surat25 Jan 2023AY 2016-17

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 67/SRT/2022[2015-16]Status: DisposedITAT Surat25 Jan 2023AY 2015-16

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 66/SRT/2022[2014-15]Status: DisposedITAT Surat25 Jan 2023AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 65/SRT/2022[2013-14]Status: DisposedITAT Surat25 Jan 2023AY 2013-14

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…

Sureshbhai Balubhai Asodariya, Surat vs. Pr. CIT (Central)Circle, Surat

In the result, this appeal of assessee is dismissed

ITA 64/SRT/2022[2012-13]Status: DisposedITAT Surat25 Jan 2023AY 2012-13

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 64 to 70/Srt/2022 (Assessment Years: 2012-13 to 2018-19) (Physical hearing) Sureshbhai Babubhai Asodariya, Pr.C.I.T., 20, Sadhana Society, Mtawadi, (Central) Circle, Vs. L.H. Road, Surat-395006. Surat. PAN No. AEEPA 5402 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri Rasesh Shah, CA Department represented by Shri Ashok B Koli, CIT-DR Date of hearing 20/01/2023 Date of pronouncement 25/01/2023 Order under Section 254(1) of Income Tax Act PER:…