Section 11UA of the Income Tax Act

The decision most relied on for Section 11UA is National Insurance Co. Ltd. v. Pranay Sethi (16 SCC 680), cited in 148 of the 77 judgments on BharatTax that turn on this section.

Leading authorities on Section 11UA

National Insurance Co. Ltd. v. Pranay Sethi
16 SCC 680 · 2017 · Reported
148
citing judgments

The Supreme Court in Pranay Sethi laid down the principles for determining 'future prospects' to be added to the income of a deceased person for calculating compensation under the Motor Vehicles Act. It also clarified principles of judicial discipline, including the binding nature of coordinate bench decisions and how to resolve conflicting Supreme Court judgments.

Vodafone M-Pesa Ltd. v. PCIT
164 DTR 257 · 2018 · High Court
69
citing judgments

An assessee has the option to choose either the Discounted Cash Flow (DCF) method or the Net Asset Value (NAV) method for share valuation under Section 56(2)(viib) read with Rule 11UA. The Assessing Officer cannot substitute the chosen method or value without identifying a specific error in the assessee's valuation.

Agro Portfolio (P.) Ltd. v. ITO
94 Taxmann.com 112 · 2018 · High Court
33
citing judgments

The Assessing Officer (AO) has the power to disturb the valuation of shares provided by the assessee's chartered accountant, even if Rule 11UA(2) is followed. If the AO doubts the valuation report, they are not necessarily bound to refer the matter to the Valuation Officer and can adopt a different method to determine the fair market value.

Gillanders Arbuthnot & Co. Ltd. v. CIT
53 ITR 283 · 1964 · Supreme Court
29
citing judgments
Cinestaan Entertainment (P) Ltd. v. ITO
106 Taxmann.com 300 · 2019 · High Court
28
citing judgments
PCIT v. U.K. Paints (India) (P.) Ltd.
380 ITR 652 · 2016 · High Court
28
citing judgments
Agro Portfolio Pvt. Ltd. v. ITO
171 ITD 74 · 2018 · ITAT
27
citing judgments
Bharat Hari Singhania v. CWT
207 ITR 1 · 1994 · Supreme Court
25
citing judgments
DCIT v. Summit Securities Ltd.
12 Taxmann.com 372 · 2011 · Reported
21
citing judgments
State of Maharashtra, AIR 1970 Bom 166; Dahari and Ors. v. State of Uttar Pradesh
2 SCC 273 · 2012 · Reported
20
citing judgments

Judgments on Section 11UA

DEPUTY COMMISSIONER, CIRCLE-49(1), DELHI vs. BHARAT KALIA, DELHI

In the result, appeal of the appellant is allowed

ITA 295/DEL/2025[2022-23]Status: DisposedITAT Delhi10 Apr 2026AY 2022-23
Section 142(1)Section 143(2)Section 143(3)Section 250Section 50C

ITO, WARD-8(1), NEW DELHI vs. ECOSPHERE AGROFARMS P.LTD, NEW DELHI

In the result, appeal of the Revenue is dismissed

ITA 4993/DEL/2019[2015-16]Status: DisposedITAT Delhi10 Apr 2026AY 2015-16

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2015-16] Ito Vs M/S Ecosphere Agrofarms Ward-8(1) Pvt. Ltd., 921A, 9Th Floor, New Delhi Devika Tower, Nehru Place, New Delhi-110019. Pan-Aacce9290R Appellant Respondent Revenue By Ms. Indu Bala Saini, Sr.Dr Assessee By Shri V.K.Aggarwal, Ar Date Of Hearing 21.01.2026 Date Of Pronouncement 10.04.2026 Order Per Manish Agarwal, Am : The Present Appeal Is Filed By Revenue Against The Order Dated 26.03.2019 By Ld. Commissioner Of Income Tax (A)-3, New Delhi [“Ld. Cit(A)”] In Appeal No.3/10187/2017-18 Passed U/S 250 Of The Income Tax Act, 1961 [“The Act”] Arising Out Of Assessment Order Dated 18.12.2017 Passed U/S 143(3) Of The Act Pertaining To Assessment Year 2015-16. 2. Brief Facts Of The Case Are That Assessee Has Filed Return Of Income On 26.09.2015, Declaring Nil Income. The Case Was Selected For Limited Scrutiny For The Reason Large Share Premium Receipt. Notice U/S 142(1) Of The Act Alongwith Questionnaires Were Issued From Time To Time. The Assessee Has Issued Shares At A Premium Of Inr 990/- Per Share Having Face Value Of Inr 10/- Per Share. The Assessee Filed Certificate From Chartered Accountant Who Had Valued The Share At Inr 1007/- Per Share Followed Dcf Method. The Ao Observed That Assessee Has Failed To File Documentary Evidences In Support Of The Basis Of Projected Data Supply To The Valuer For Valuation Of Shares & Thus, Invoked The Provisions Of Section 56(2)(Viib) Of The Act. Thereafter, Ao Has Treated The Entire Share Premium As Income Of The Assessee U/S 56(2)(Viib) Of The Act & Made The Addition Thereof.

Section 142(1)Section 143(3)Section 250Section 56(2)(viib)

DCIT., CIRCLE-3(1), HYDERABAD vs. SARVEJANA HEALTHCARE PRIVATE LIMITED, HYDERABAD

In the result, the appeal of the Revenue in ITA No 1511/Hyd/2025 is partly allowed for statistical purposes

ITA 1511/HYD/2025[2020]Status: DisposedITAT Hyderabad08 Apr 2026

Bench: Shri Ravish Sooda N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1406 & 1511/Hyd/2025 (िनधा"रण वष"/Assessment Year: 2016-17 & 2020-21) Dy. Cit Vs. Sarvejana Healthcare Circle 3(1) Private Limited, Hyderabad Hyderabad Pan: Aamcs6700Q राज" व "ारा/Revenue By: Smt.U.Mini Chandran,Cit(Dr) िनधा""रती "ारा/Assessee By: C.A. Satya Dinakar सुनवाई की तारीख/Date Of Hearing: 24/03/2026 घोषणा की तारीख/Pronouncement: 08/04/2026 आदेश/Order Per Madhusudan Sawdia, A.M.:

For Appellant: C.A. Satya DinakarFor Respondent: Smt.U.Mini Chandran,CIT(DR)
Section 143(3)Section 147Section 148Section 56(2)(vii)Section 69A

DCIT., CIRCLE-3(1), HYDERABAD vs. SARVEJANA HEALTHCARE PVT. LTD., HYDERABAD

In the result, the appeal of the Revenue in ITA No 1511/Hyd/2025 is partly allowed for statistical purposes

ITA 1406/HYD/2025[2016-17]Status: DisposedITAT Hyderabad08 Apr 2026AY 2016-17

Bench: Shri Ravish Sooda N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1406 & 1511/Hyd/2025 (िनधा"रण वष"/Assessment Year: 2016-17 & 2020-21) Dy. Cit Vs. Sarvejana Healthcare Circle 3(1) Private Limited, Hyderabad Hyderabad Pan: Aamcs6700Q राज" व "ारा/Revenue By: Smt.U.Mini Chandran,Cit(Dr) िनधा""रती "ारा/Assessee By: C.A. Satya Dinakar सुनवाई की तारीख/Date Of Hearing: 24/03/2026 घोषणा की तारीख/Pronouncement: 08/04/2026 आदेश/Order Per Madhusudan Sawdia, A.M.:

For Appellant: C.A. Satya DinakarFor Respondent: Smt.U.Mini Chandran,CIT(DR)
Section 143(3)Section 147Section 148Section 56(2)(vii)Section 69A

SHALBY LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-4(1)(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed

ITA 1005/AHD/2023[2015-16]Status: DisposedITAT Ahmedabad16 Mar 2026AY 2015-16

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year 2015-16

For Appellant: Shri Aseem Thakkar, A.RFor Respondent: Shri R P Rastogi, CIT-D.R
Section 143(3)Section 56(2)(ib)Section 56(2)(vii)Section 56(2)(viib)Section 68

KARADI PATH EDUCATION COMPANY PRIVATE LIMITED,CHENNAI vs. COMMISSIONER, CHENNAI

ITA 1848/CHNY/2025[2018-2019]Status: DisposedITAT Chennai17 Feb 2026AY 2018-2019

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1848/Chny/2025 निर्धारण वर्ष / Assessment Year: 2018-19 Karadi Path Education Company Private Limited, 3A No.11, Dev Regency, I Main Road, Gandhi Nagar, Adyar, Chennai - 600 020. [Pan: Aaeck-2995-D] (अपीलार्थी/Appellant) Dcit, Vs. Corporate Circle -4(1), Chennai. (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By : Shri. Pradhan Priya Dass, C.A. (By Virtual) प्रत्यर्थी की ओर से/Respondent By : Ms. Gouthami Manivasagam, Jcit सुनवाई की तारीख/Date Of Hearing : 27.11.2025 घोषणा की तारीख/Date Of Pronouncement : 17.02.2026 आदेश /O R Der Per S. R. Raghunatha, Am: This Appeal By The Assessee Is Filed Against The Order Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, (In Short “Ld.Cit(A)”) For The Assessment Year 2018-19, Dated 29.04.2025 In Respect Of The Order Of The National E-Assessment Centre, Delhi (In Short 'Ao') Passed U/S.143(3) Of The Income Tax Act, 1961 ( In Short ‘The Act') Dated 28.04.2021. :-2-:

For Appellant: Shri. Pradhan Priya Dass, C.A. (by Virtual)For Respondent: Ms. Gouthami Manivasagam, JCIT
Section 143(3)Section 56(2)(vii)Section 56(2)(viib)

SONICA SACHDEVA TH THE LEGAL HEIR DEEPAK SACHDEVA,GHAZIABAD vs. ACIT, GHAZIABAD

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

ITA 5051/DEL/2025[2022-23]Status: DisposedITAT Delhi13 Feb 2026AY 2022-23

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. Rifaur Rahman, Hon’Bleasstt. Year : 2022-23 Sonica Sachdeva Through The Legal Vs. Acit, Circle 2(1)(1), Heir Deepak Sachdeva, Ghaziabad 6042, Ats Advantage, Ahinsa Khand, Indrapura, Ghaziabad, Up (Pan: Bfzpk7879E) (Appellant) (Respondent) Appellant By : Shri A.K. Khurana, Ca Respondent By : Ms. Ankush Kalra, Sr. Dr.

For Appellant: Shri A.K. Khurana, CAFor Respondent: Ms. Ankush Kalra, Sr. DR
Section 143(3)Section 69A

BRAJBHUMI NIRMAAN PRIVATE LIMITED,SALT LAKE vs. ITO, WARD 2(1),, KOLKATA

ITA 2605/KOL/2025[2015-2016]Status: DisposedITAT Kolkata10 Feb 2026AY 2015-2016

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

RIVET HEALTH CLUB PVT LTD,FARIDABAD vs. ITO WARD - 2(2), FARIDABAD

ITA 6182/DEL/2019[2015-16]Status: DisposedITAT Delhi21 Jan 2026AY 2015-16

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumar

DEPUTY COMMISSIONER OF INCOME TAX , KOLKATA vs. SNOWFALL COMMOTRADE PVT LTD , KOLKATA

In the result, the appeal filed by the revenue is dismissed and cross-objection of the assessee is also dismissed

ITA 2087/KOL/2025[2015-16]Status: DisposedITAT Kolkata15 Jan 2026AY 2015-16

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2015-16 Dcit, Circle-5(1), Kolkata………...….……………….……….……….……Appellant Vs. M/S Snowfall Commotrade Pvt. Ltd….……………………………...…..…..Respondent 27, Modi Building, R N Mukherjee Road, Kolkata-700001. [Pan: Aaics0531J] C.O. 85/Kol/2025 (In Ita No.2087/Kol/2025) Assessment Year: 2015-16 M/S Snowfall Commotrade Pvt. Ltd.….……………………………… Cross-Objector 27, Modi Building, R N Mukherjee Road, Kolkata-700001. [Pan: Aaics0531J] Vs. Dcit, Circle-5(1), Kolkata ……………………………..…...…..…………….Respondent Appearances By: Shri J. M. Thad, Adv., Appeared On Behalf Of The Assessee. Shri Sanat Kr. Raha, Cit- Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : January 07, 2026 Date Of Pronouncing The Order : January 15, 2026 Order Per Pradip Kumar Choubey:

Section 14ASection 250

BABA HEALTHCARE PRIVATE LIMITED,. vs. ACIT CIRCLE -1, FBD, .

In the result, the appeal of the Assessee is allowed for statistical

ITA 476/DEL/2025[2016-17]Status: DisposedITAT Delhi07 Jan 2026AY 2016-17

Bench: Shri C. N. Prasad & Shri M. Balaganeshbaba Healthcare Pvt. Ltd, Vs. Acit, C/O. Ipso Legal, H-35, 1St Circle-1, Floor, Jangpura Faridabad Extension, New Delhi (Appellant) (Respondent) Pan: Aadcb7985R Assessee By : Shri Rajiv Saxena, Adv Ms. Ssumnagla Saxena, Adv Shri Dishant Sethi, Adv Revenue By: Shri Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 04/12/2025 Date Of Pronouncement 07/01/2026

For Appellant: Shri Rajiv Saxena, AdvFor Respondent: Shri Rajesh Kumar Dhanesta, Sr. DR
Section 133(6)Section 143(3)Section 56(2)(vii)Section 68

BEGANI JEWELS,MUMBAI vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-3(2), MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 5816/MUM/2025[2023-24]Status: DisposedITAT Mumbai11 Dec 2025AY 2023-24

Bench: Shri Amit Shukla & Shri Girish Agrawal

For Appellant: Shri Rushabh Mehta, CAFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 1Section 147Section 148Section 151ASection 28

BEGANI JEWELS,MUMBAI vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-3(2), MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 5815/MUM/2025[2022-23]Status: DisposedITAT Mumbai11 Dec 2025AY 2022-23

Bench: Shri Amit Shukla & Shri Girish Agrawal

For Appellant: Shri Rushabh Mehta, CAFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 1Section 147Section 148Section 151ASection 28

BEGANI JEWELS,MUMBAI vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-3(2), MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 5814/MUM/2025[2021-22]Status: DisposedITAT Mumbai11 Dec 2025AY 2021-22

Bench: Shri Amit Shukla & Shri Girish Agrawal

For Appellant: Shri Rushabh Mehta, CAFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 1Section 147Section 148Section 151ASection 28

ACIT CENTRAL CIRCLE 3(2), MUMBAI vs. BEGANI JEWELS, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 5747/MUM/2025[2023-24]Status: DisposedITAT Mumbai11 Dec 2025AY 2023-24

Bench: Shri Amit Shukla & Shri Girish Agrawal

For Appellant: Shri Rushabh Mehta, CAFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 1Section 147Section 148Section 151ASection 28

ACIT CENTRAL CIRCLE 3(2), MUMBAI vs. BEGANI JEWELS, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 5745/MUM/2025[2021-22]Status: DisposedITAT Mumbai11 Dec 2025AY 2021-22

Bench: Shri Amit Shukla & Shri Girish Agrawal

For Appellant: Shri Rushabh Mehta, CAFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 1Section 147Section 148Section 151ASection 28

ACIT CENTRAL CIRCLE 3(2), MUMBAI vs. BEGANI JEWELS, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 5744/MUM/2025[2020-21]Status: DisposedITAT Mumbai11 Dec 2025AY 2020-21

Bench: Shri Amit Shukla & Shri Girish Agrawal

For Appellant: Shri Rushabh Mehta, CAFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 1Section 147Section 148Section 151ASection 28

ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI

In the result, the appeal of the assessee is allowed

ITA 1140/CHNY/2025[2016-17]Status: DisposedITAT Chennai05 Dec 2025AY 2016-17

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1140/Chny/2025 Assessment Years: 2016-17 Asirvad Micro Finance Limited, Assistant Commissioner Of No.9, 9Th Floor, Club House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [Pan: Aagca5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr.P.R.Prasanna Varma, Fca & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 25.09.2025 घोषणा की तारीख /Date Of Pronouncement : 05.12.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

For Appellant: Mr.P.R.Prasanna Varma, FCA &For Respondent: Mr.Bipin C.N, CIT
Section 2(18)Section 2(71)Section 56(2)Section 56(2)(viib)Section 8

DCIT CENTRAL CIRCLE 7 1 MUMBAI, MUMBAI vs. SPECTRA REALTIES PRIVATE LIMITED,, MUMBAI

In the result, the appeal of the Revenue, being ITA no

ITA 4304/MUM/2024[2017-18]Status: DisposedITAT Mumbai04 Dec 2025AY 2017-18

Bench: Shri Sandeep Singh Karhailshri Prabhash Shankardeputy Commissioner Of Income Tax, Central Circle - 7(1) Room No.653, Aaykar Bhawan, Churchgate, ............... Appellant Mumbai - 400020 V/S Spectra Realities Private Limited, 9, Floor-I, Plot – 51, Kapadia Chamber, Devji Ratansi Marg, ……………… Respondent Chinchbunder, Mumbai – 400009 Pan: Aalcs7233B Deputy Commissioner Of Income Tax, Central Circle - 7(1) Room No.653, Aaykar Bhawan, Churchgate, ............... Appellant Mumbai - 400020

For Appellant: Shri Bhupendra ShahFor Respondent: Shri Swapnil Choudhary, Sr.AR
Section 142(1)Section 143(2)Section 143(3)Section 250Section 56(2)(viib)

INTERMESH SHOPPING NETWORK PRIVATE LIMITED,MUMBAI vs. ITO, WARD 12(3), DELHI

In the result, the appeal of the assessee is allowed

ITA 1579/MUM/2024[2016-17]Status: DisposedITAT Mumbai01 Dec 2025AY 2016-17

Bench: Shri M. Balaganesh & Shri Sudhir Kumarintermesh Shopping Network Pvt. Ltd, Vs. Ito, Lower Ground Unit No. 1-06, Ward-12(3), Boomerang, Chandivali Farmroad, Delhi Chandivali, Mumbai-400072 (Appellant) (Respondent) Pan: Aaaci7990L

For Appellant: Ms. Simran Dhawan, Adv (VC)For Respondent: Shri Om Prakash, Sr. DR
Section 131Section 142(1)Section 143(3)Section 56(2)(viib)

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