Section 2(31) of the Income Tax Act

The decision most relied on for Section 2(31) is Ramnath & Co. v. CIT (116 Taxmann.com 885), cited in 30 of the 131 judgments on BharatTax that turn on this section.

Leading authorities on Section 2(31)

Ramnath & Co. v. CIT
116 Taxmann.com 885 · 2020 · Supreme Court
30
citing judgments

Beneficial provisions in tax law should be interpreted strictly, with the burden of proof on the assessee. Ambiguous beneficial provisions are interpreted in favour of the Revenue.

Seth Pushalal Mansighka (P.) Ltd. v. CIT
66 ITR 159 · 1967 · Supreme Court
22
citing judgments

Income accrues at the place where title to goods passes to the buyer upon payment of the price. For offshore supply of equipment, if the transaction is completed outside India, no income accrues to the assessee in India.

CIT v. Kumari Prabhawati Gupta
325 ITR 563 · 2010 · High Court
9
citing judgments
JCIT v. Siemens Aktiengesellschaft
34 SOT 16 · 2009 · ITAT
8
citing judgments
Arosan Enterprises Ltd. v. UOI
9 SCC 449 · 1999 · Reported
7
citing judgments
B.K. Jagan & Co. v. CIT
136 Taxmann 343 · 2004 · High Court
6
citing judgments
CIT v. Spice Infotainment Ltd.
426 ITR 613 · 2019 · Supreme Court
5
citing judgments
Mehsana Urban Co-oop Bank Ltd. v. Asst. CIT
451 ITR 510 · 2023 · High Court
5
citing judgments
INCOME- TAX v. DR.K.K.SHAH
135 ITR 146 · 1982 · High Court
3
citing judgments

Judgments on Section 2(31)

Sharadamma, Hassan vs. The Income Tax Officer Ward-1, Hassan

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

ITA 208/BANG/2026[2014-15]Status: DisposedITAT Bangalore21 Sept 2026AY 2014-15

Bench: Shri Balakrishnan S. & Shri Soundararajan K.नििधारण वर्ा/Assessment Year: 2014-15) Smt. Sharadamma Paduvalehippe, V Post, Kasaba, The Income Tax Officer, Holenarasipur, Ward – 1, Vs. Hassan-573211, Hassan. Karnataka. अपीलधर्थी Appellant प्रत्यर्थी Respondent

Section 142(1)Section 144Section 148

Income Tax Officer 20(1)(1), Mumbai vs. Aditya Birla Private Equity Sunrise Fund, Mumbai

In the result, the appeal filed by the Department is dismissed

ITA 4742/MUM/2026[2016]Status: DisposedITAT Mumbai26 Aug 2026

Bench: Shri Vikram Singh Yadav & Shri Siddhartha Nautiyal

Section 10Section 148Section 2(31)

Andhra Pradesh State Civil Supplies Corporation Limited, Vijayawada vs. Income Tax Officer (TDS), Ward-1, Rajahmundry

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 169/VIZ/2026[2019-20]Status: DisposedITAT Visakhapatnam29 May 2026AY 2019-20

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

For Appellant: AABCA7164R
Section 10(22)Section 194ASection 194CSection 194HSection 201Section 201(1)Section 250Section 80P

Andhra Pradesh State Civil Supplies Corporation Limited, Vijayawada vs. Income Tax Officer (TDS), Ward-1, Eluru

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 168/VIZ/2026[2019-20]Status: DisposedITAT Visakhapatnam29 May 2026AY 2019-20

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

For Appellant: AABCA7164R
Section 10(22)Section 194ASection 194CSection 194HSection 201Section 201(1)Section 250Section 80P

Andhra Pradesh State Civil Supplies Corporation Limited, Vijayawada vs. Income Tax Officer (TDS), Ward-1, Rajahmundry

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 167/VIZ/2026[2018-19]Status: DisposedITAT Visakhapatnam29 May 2026AY 2018-19

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

For Appellant: AABCA7164R
Section 10(22)Section 194ASection 194CSection 194HSection 201Section 201(1)Section 250Section 80P

Andhra Pradesh State Civil Supplies Corporation Limited, Vijayawada vs. Income Tax Officer (TDS), Ward-1, Eluru

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 166/VIZ/2026[2018-19]Status: DisposedITAT Visakhapatnam29 May 2026AY 2018-19

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

For Appellant: AABCA7164R
Section 10(22)Section 194ASection 194CSection 194HSection 201Section 201(1)Section 250Section 80P

Andhra Pradesh State Civil Supplies Corporation Limited, Vijayawada vs. Income Tax Officer (TDS), Ward-1, Rajahmundry

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 165/VIZ/2026[2017-18]Status: DisposedITAT Visakhapatnam29 May 2026AY 2017-18

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

For Appellant: AABCA7164R
Section 10(22)Section 194ASection 194CSection 194HSection 201Section 201(1)Section 250Section 80P

Andhra Pradesh State Civil Supplies Corporation Limited, Vijayawada vs. Income Tax Officer (TDS), Ward-1, Eluru

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 164/VIZ/2026[2017-18]Status: DisposedITAT Visakhapatnam29 May 2026AY 2017-18

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

For Appellant: AABCA7164R
Section 10(22)Section 194ASection 194CSection 194HSection 201Section 201(1)Section 250Section 80P

Bileshivale Muddanna Govardhana Murthy, Bangalore vs. DCIT, Central Circle - 1(2), Bangalore

ITA 2193/BANG/2025[2014-15]Status: DisposedITAT Bangalore05 Mar 2026AY 2014-15

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri R.E Balasubramanyam, CAFor Respondent: Shri Azhar Zain VP, CIT(DR)
Section 153ASection 250

Bileshivale Muddanna Govardhana Murthy, Bengaluru vs. DCIT, Central Circle - 1(2), Bengaluru

ITA 2192/BANG/2025[2013-14]Status: DisposedITAT Bangalore05 Mar 2026AY 2013-14

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri R.E Balasubramanyam, CAFor Respondent: Shri Azhar Zain VP, CIT(DR)
Section 153ASection 250

Zeliant Corp, Delhi vs. Income Tax Officer, Ward 36(1), Delhi

The appeal of the assessee is allowed in above

ITA 2201/DEL/2025[2017-18]Status: DisposedITAT Delhi06 Feb 2026AY 2017-18

Bench: Shri M. Balaganesh

Section 133(6)Section 142(1)Section 144(1)(b)Section 144ASection 153(1)Section 2(31)Section 2(31)(iv)Section 250Section 282Section 69A

Asstt. Commisssioner of Income Tax (It) -3(1)(2), Mumbai vs. Kuwait Investment Authority, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 5351/MUM/2025[2023-24]Status: DisposedITAT Mumbai30 Jan 2026AY 2023-24

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Farrokh Irani, Sr. AdvFor Respondent: Mr. Krishna Kumar, Sr. DR

ITO-22(1)(6), Mumbai vs. Arcil Retail Loan Portfolio- 001- A- Trust, Mumbai

ITA 4252/MUM/2025[2016-17]Status: DisposedITAT Mumbai22 Jan 2026AY 2016-17

Bench: Shri Amit Shukla& Shri Makarand Vasant Mahadeokar

Section 143(1)Section 143(3)Section 164Section 2(31)Section 250Section 61Section 63

Shriram Finance Ltd., Chennai vs. PCIT, Chennai

ITA 2043/CHNY/2025[2022-23]Status: DisposedITAT Chennai08 Jan 2026AY 2022-23

Bench: Shri M. Balaganesh & Shri S.S. Viswanethra Raviआयकर अपील सं./I.T.A. No.2043/Chny/2025 िनधा"रण वष"/Assessment Year: 2022-23 Shriram Finance Limited, Vs. The Principal Commissioner Of [Since Shriram City Union Finance Income Tax – 3, Limited Amalgamated With Shriram Chennai. Transport Finance Co. Limited & Presently Known As Shriram Finance Limited], Sri Towers, Plot No. 14A, South Phase, Industrial Estate, Guindy, Chennai 600 032. [Pan:Aaacs7018R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Sivaraman, Advocate ""थ" की ओर से/Respondent By : Shri C.N. Bipin, Cit सुनवाई की तारीख/ Date Of Hearing : 15.10.2025 घोषणा की तारीख /Date Of Pronouncement : 08.01.2026 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.05.2025 Passed By The Ld. Principal Commissioner Of Income Tax – 3, Chennai For The Assessment Year 2022-23 Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

For Appellant: Shri R. Sivaraman, AdvocateFor Respondent: Shri C.N. Bipin, CIT
Section 143(3)Section 234DSection 263Section 36(1)(vii)Section 36(1)(viia)Section 4

Andhra Pradesh State Civil Supplies Corporation Limited, Kanuru vs. ITO, TDS, Ward(1), Eluru

In the result, appeal of the assessee is allowed for statistical purposes

ITA 29/VIZ/2025[2019-20]Status: DisposedITAT Visakhapatnam03 Dec 2025AY 2019-20

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.29/Viz/2025 (निर्धारण वर्ा/ Assessment Year:2019-20) Vs. Andhra Pradesh State Civil The Income Tax Officer (Tds)-Ward-1 Eluru – 534001 Supplies Corporation Limited Andhra Pradesh 10-152/1, 4Th Floor Sai Towers, Ashok Nagar Bandar Road, Kanuru – 520007 Andhra Pradesh [Pan: Aabca7161R]

Section 154Section 201(1)Section 249(2)Section 249(3)

Shri K.G Subbarama Setty, Bangalore vs. ACIT 5(2)(1) Bangalore, C R Building

In the result all the three appeals in ITA Nos

ITA 965/BANG/2025[2007-08]Status: DisposedITAT Bangalore28 Nov 2025AY 2007-08

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Siddesh N Gaddi, A.RFor Respondent: Sri Balusamy N, D.R
Section 127Section 132Section 143(1)Section 143(2)Section 143(3)Section 154Section 250

K A Sujit Chandan, Bengaluru vs. Assistant Commissioner of Income Tax Circle Bengaluru.-5(2)(1), Bengaluru

In the result all the three appeals in ITA Nos

ITA 964/BANG/2025[2007-08]Status: DisposedITAT Bangalore28 Nov 2025AY 2007-08

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Siddesh N Gaddi, A.RFor Respondent: Sri Balusamy N, D.R
Section 127Section 132Section 143(1)Section 143(2)Section 143(3)Section 154Section 250

Seema Sureka, Kolkata vs. DCIT, Central Circle - 3(3), Kolkata

Appeal of the assessee is partly allowed

ITA 2682/KOL/2024[2015-16]Status: DisposedITAT Kolkata04 Nov 2025AY 2015-16

Bench: The Ld. Cit(A) : (I) Misc. Receipts Of Rs.96,000/- In Cash Shown As Gifts Received & Offered To Tax; (Ii) Receipt Of A Gift Of Rs. 5,84,000/- From An Huf, Claimed As Exempt U/S 56(2) Of The Act; & (Iii) Receipts Of Rs.2,99,133/- Shown As Profit From Commodity Trading, Albeit On Off-Market Basis.

Section 250Section 56(2)Section 56(2)(vii)

Pranay Mahajan Welfare Trust, Amritsar vs. Income Tax Officer- Ward 2(1), Amritsar

In the result, the appeal of the assessee is allowed for statistical purpose

ITA 461/ASR/2024[2023-2024]Status: DisposedITAT Amritsar26 Sept 2025AY 2023-2024

Bench: Dr. M. L. Meena & Sh. Udayan Dasgupta

For Appellant: None (Adjournment application)
Section 143(1)Section 250

Pranay Mahajan Welfare Trust, Amritsar vs. Income Tax Officer Ward -2(1), Amritsar

In the result, the appeal of the assessee is allowed for statistical purpose

ITA 460/ASR/2024[2022-2023]Status: DisposedITAT Amritsar26 Sept 2025AY 2022-2023

Bench: Dr. M. L. Meena & Sh. Udayan Dasgupta

For Appellant: None (Adjournment application)
Section 143(1)Section 250