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“Section 56(2)(ix)”

Section References (mined)Section 56Section 56(2)(ix)53 judgments

Judgments citing Section 56(2)(ix)

Shri Senthil Kumar Arumugasamy, Coimbatore vs. DCIT, Chennai

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 525/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

Shri O. Arumugasamy, Coimbatore vs. DCIT, Chennai

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 524/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

Shri Marappa Gounder Palanisamy, Coimbatore vs. DCIT, Central Circle-2(2), Chennai

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 523/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

DCIT, Nungambakkam vs. Shri Marappa Gounder Palanisamy, Coimbatore

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 505/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

DCIT, Nungambakkam vs. Shri Senthil Kumar Arumugasamy, Coimbatore

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 504/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

DCIT, Nungambakkam vs. M/S Senthil Papers & Boards Pvt . Ltd ., Coimbatore

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 503/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

DCIT, Nungambakkam vs. M/S. Bonjour Bonheur Pvt.Ltd, Puducherry

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 502/CHNY/2022[2017-18]Status: DisposedITAT Chennai28 Feb 2024AY 2017-18

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद

M/S.Ponicherry Sri Lakshmi Jewllery, Pondicherry vs. DCIT, Central Circle -2(2), Chennai

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 291/CHNY/2022[2017-2018]Status: DisposedITAT Chennai28 Feb 2024AY 2017-2018

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकरअपीलीयअिधकरण,‘सी’"यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"यएवं "ीमनोमोहनदास

M/S.Lakshmi Silvers, Pondicherry vs. DCIT, Central Circle-2(2), Chennai

In the result, appeals filed by the assessees’ and appeals filed by the revenue for assessment years 2013-14, 2014-15,

ITA 289/CHNY/2022[2017-2018]Status: DisposedITAT Chennai28 Feb 2024AY 2017-2018

Bench: SHRI MANJUNATHA. G, HON’BLE (Accountant Member), SHRI MANOMOHAN DAS, HON’BLE (Judicial Member)

आयकरअपीलीयअिधकरण,‘सी’"यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"यएवं "ीमनोमोहनदास

Mangal Credit and Fincorp Ltd, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 1(1), Mumbai

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

ITA 2756/MUM/2022[2018-2019]Status: DisposedITAT Mumbai24 Apr 2023AY 2018-2019

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 56(2)(ix)

assessee is aggrieved by the decision of the learned CIT(A) in confirming the addition of Rs. 1.50 crores made under section 56(2)(ix) of the I.T. Act. 2. The facts relating to the case are stated in brief. The assessee is non- banking financial company listed in Bombay ... case laws. However, the Assessing Officer took the view that the amount so forfeited by the assessee is liable to be taxed under section 56(2)(ix) of the Act. Accordingly he assessed the above said amount as income of the assessee under the above said section. 4. The learned

Vidya Devi, Karnal vs. ITO Ward - 4, Karnal

In the result, the appeal of the assessee is allowed and the AO is directed to delete the addition

ITA 7529/DEL/2019[2011-12]Status: DisposedITAT Delhi17 Apr 2023AY 2011-12

Bench: Shri C. M. Gargvidya Devi, Vs. Ito, Vill. Kailash, Po Tikri, Ward-4, Karnal, Haryana Karnal (Appellant) (Respondent) Pan: Fcbpd4813A Assessee By : Shri Satyam Aneja, Adv Revenue By: Shri Om Prakash, Sr. Dr Date Of Hearing 16/03/2023 Date Of Pronouncement 17/04/2023

For Appellant: Shri Satyam Aneja, AdvFor Respondent: Shri Om Prakash, Sr. DR
Section 12Section 147Section 2Section 2(47)Section 45Section 47Section 51Section 56(2)(ix)

reducing the cost of acquisition. Provisions of Sec. 56(2)(ix) [applicable if advance money received and retained on or after 1.04.2014]. Section 56(2)(ix) was inserted by the Finance (No.2) Act 2014, with effect from assessment year 2015- 16. It provides for taxability as Income from Other Sources

ACIT, Circle- 29(1), New Delhi vs. Ahmad Ansari Imtiyaz, New Delhi

Appeal of the revenue is dismissed

ITA 3003/DEL/2018[2014-15]Status: DisposedITAT Delhi23 Mar 2023AY 2014-15

Bench: Shri B.R.R. Kumar & Shri Yogesh Kumar Usi.T.A. No. 3003/Del/2018 (A.Y. 2014-15) Acit, Ahmad Ansari Imtiyaz, Circle : 29 (1) Vs. 301/B-4, Govindpuri, New Delhi. Kalkaji, New Delhi – 110 019. ( Appellant ) Pan No. Aaapi7849D ( Respondent )

For Appellant: Ms. Prem Lata Bansal, Sr. AdvFor Respondent: Shri Kanv Bali, Sr. DR
Section 2(47)Section 51Section 56Section 56(1)Section 56(2)(ix)Section 56(2)(vii)

only and it cannot be taxed under the head “income from other sources”. Further submitted that, the „income from other sources‟ chargeable in Section 56 (2)(ix) of the Act does not provide taxation of forfeited capital receipt till Assessment Year 2014-15. 8. We have heard the parties perused

Nirmal Singh Malhi, New Delhi vs. ACIT Circle-30(1), New Delhi

In the result, the appeal of the assessee is allowed

ITA 7465/DEL/2019[2014-15]Status: DisposedITAT Delhi03 Mar 2023AY 2014-15

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Tushar Jarwal, AdvFor Respondent: Sh. Ajay Kumar Arora, Sr. DR
Section 45Section 51Section 56(2)(ix)

After deducting the refund of Rs.50,00,000/-, the Assessing Office has added. 6. The Ld.CIT(A) held that Section 51 and Section 56(2)(ix) are applicable only where the sum of money received as advance in the course of negotiations for the transfer of capital asset has been