Which cases are most cited on Section 24(1)?

CIT v. Ashaland Corporation (133 ITR 55) — 44 citing judgments.

How many judgments are there on Section 24(1)?

BharatTax indexes 68 ITAT, High Court and Supreme Court judgments that turn on Section 24(1) of the Income Tax Act, 1961.

Section 24(1) of the Income Tax Act

Q: What is the leading case on Section 24(1) of the Income Tax Act?

CIT v. Ashaland Corporation (133 ITR 55) is the decision most relied on for Section 24(1), cited in 44 judgments. 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.

Income-tax Act, 2025: s.22

Section 24(1) falls under section 24 of the Income-tax Act, 1961, which corresponds to section 22 (Deductions from income from house property) of the Income-tax Act, 2025.

Read section 22 of the 2025 Act

Correspondence checked against the ICAI tabular mapping of the two Acts and the BharatTax.co section commentary.

The decision most relied on for Section 24(1) is CIT v. Ashaland Corporation (133 ITR 55), cited in 44 of the 68 judgments on BharatTax that turn on this section.

Leading authorities on Section 24(1)

CIT v. Ashaland Corporation

133 ITR 55 · 1982 · High Court

citing judgments

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 on Section 24(1)

Shyamkaran Singh, Gaya Bihar vs. Asstt Commissioner, Gaya

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

ITA 558/PAT/2024[2017-18]Status: DisposedITAT Patna27 Apr 2026AY 2017-18

For Appellant: Sh. O.P. Shukla, AdvFor Respondent: Sh. Manab Adak, JCIT

Section 142(1)Section 143(2)Section 145(3)Section 194ISection 24(1)Section 250

West Bengal Electronics Industry Development Corporation Limited, Kolkata vs. DCIT/ACIT, Circle - 2(1), Kolkata

The appeal of the assessee is allowed

ITA 1591/KOL/2024[2013-2014]Status: DisposedITAT Kolkata07 Jan 2026AY 2013-2014

Section 143(3)Section 147Section 148Section 24(1)Section 250

West Bengal Electronics Industry Development Corporation Limited, Kolkata vs. D.C.I.T./A.C.I.T., Circle - 2(1), Kolkata

The appeal of the assessee is allowed

ITA 1590/KOL/2024[2012-2013]Status: DisposedITAT Kolkata07 Jan 2026AY 2012-2013

Section 143(3)Section 147Section 148Section 24(1)Section 250

Hind Ceramics Pvt. Ltd., Kolkata vs. DCIT, Circle - 10(1), Kolkatq

In the result, the appeal of the assessee is allowed

ITA 609/KOL/2024[2013-14]Status: DisposedITAT Kolkata19 Nov 2025AY 2013-14

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle 10(1) Hind Ceramics Pvt. Ltd. Aaykar Bhawan Poorva, P-7, 147, Nilganj Road, Belghoria, Chowringhee Square, Vs. Kolkata-700056, West Bengal Kolkata-700069, West Bengal (Appellant) (Respondent) Pan No. Aaach7998D Assessee By : S/Shri Soumitra Choudhury & P. Sarkar, Ars Revenue By : Shri Madhumita Das, Dr Date Of Hearing: 15.10.2025 Date Of Pronouncement: 19.11.2025

For Appellant: S/shri Soumitra Choudhury &For Respondent: Shri Madhumita Das, DR

Hind Ceramics Pvt. Ltd., Kolkata vs. DCIT, Circle - 10(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 610/KOL/2024[2017-18]Status: DisposedITAT Kolkata06 May 2025AY 2017-18

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

For Appellant: Shri Soumitra Choudhury &For Respondent: Shri Huidrom Robindro Singh, DR

Section 143(2)Section 234BSection 24(1)

Hind Ceramics Pvt. Ltd., Kolkata vs. DCIT, Circle - 10(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 608/KOL/2024[2012-13]Status: DisposedITAT Kolkata06 May 2025AY 2012-13

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

For Appellant: Shri Soumitra Choudhury &For Respondent: Shri Huidrom Robindro Singh, DR

Section 143(2)Section 234BSection 24(1)

Mahakali Developers and Resorts Private Limited, Scf vs. PCIT Patiala, Aaykar Bhawan

Appeals of the assessee are allowed

ITA 295/CHANDI/2024[2015-2016]Status: DisposedITAT Chandigarh24 Feb 2025AY 2015-2016

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

For Appellant: Shri Ashok Goel, CAFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 139(1)Section 143(2)Section 143(3)Section 144Section 147Section 24Section 24(1)Section 263

Mahakali Developers and Resorts Private Limites, Scf, Ist Floor vs. PCIT Patiala, Aaykar Bhawan Patiala

Appeals of the assessee are allowed

ITA 294/CHANDI/2024[2013-2014]Status: DisposedITAT Chandigarh24 Feb 2025AY 2013-2014

For Appellant: Shri Ashok Goel, CAFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 139(1)Section 143(2)Section 143(3)Section 144Section 147Section 24Section 24(1)Section 263

Kandoi Automobiles Pvt. Ltd., Cuttack vs. Principal Commissioner of Income Tax, Cuttack

In the result, appeal of the assessee is allowed

ITA 183/CTK/2020[2015-16]Status: DisposedITAT Cuttack07 Aug 2024AY 2015-16

For Appellant: Shri P.R.Mohanty, AdvocteFor Respondent: Shri Sanjay Kumar, CIT-DR

Section 143(3)Section 24(1)Section 263Section 57

Rajendra Kumar Gupta, Bhopal vs. DCIT-2(1), Bhopal

Appeal is partly allowed for statistical purposes

ITA 498/IND/2023[2017-18]Status: DisposedITAT Indore09 Apr 2024AY 2017-18

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year : 2017-18 Shri Rajendra Kumar Dcit/Acit-2(1), Gupta, Bhopal B-72, Mansarovar, बनाम/ Shahpura, Vs. Bhopal (Assessee/Appellant) (Revenue/Respondent) Pan: Aaypg6045M Assessee By Shri S.S.Deshpande, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 03.04.2024 Date Of Pronouncement 09.04.2024

Section 115BSection 143(3)Section 24(1)Section 68