Section 24(a) of the Income Tax Act

The decision most relied on for Section 24(a) is CIT v. Neha Builders Pvt. Ltd. (296 ITR 661), cited in 129 of the 68 judgments on BharatTax that turn on this section.

Leading authorities on Section 24(a)

CIT v. Neha Builders Pvt. Ltd.
296 ITR 661 · 2008 · High Court
129
citing judgments

Income from unsold flats held as stock-in-trade by a builder or developer is assessable as business income, not income from house property, for assessment years prior to the insertion of Section 23(5) of the Income-tax Act.

Radha Devi Dalmia v. CIT
125 ITR 134 · 1980 · High Court
55
citing judgments

When determining income from house property under Section 23, the Annual Letable Value (ALV) can be estimated by deeming 7% of the property's value as notional rent, particularly when actual rent or other clear basis for ALV is absent.

CIT v. Motilal Hirabhai Spg. And Wvg. Co. Ltd.
113 ITR 173 · 1978 · High Court
49
citing judgments

The determination of whether share transactions constitute a business activity or an investment depends on the facts of the case. Factors like volume, frequency, and regularity indicate business activity, irrespective of how such transactions are presented in accounts.

CIT v. Cocanada Radhaswami Bank Ltd.
57 ITR 306 · 1965 · Supreme Court
46
citing judgments

The nature of the activity giving rise to income is fundamental in determining the deductibility of expenses. Interest on loans for acquiring properties held as current assets is a deductible business expenditure if incurred for business purposes.

CIT v. Neha Builders (P.) Ltd.
164 Taxmann 342 · 2007 · High Court
30
citing judgments

When a builder's business involves constructing and selling property, unsold units are considered stock-in-trade and income derived from them is taxable under the head 'Business Income', not 'Income from House Property'.

PCIT v. Earth Minerals Co. Ltd.
162 Taxmann.com 272 · 2024 · Supreme Court
13
citing judgments
CIT v. D.N. Dosani
280 ITR 275 · 2006 · High Court
13
citing judgments
Azimganj Estate Pvt. Ltd. v. CIT
352 ITR 82 · 2013 · High Court
12
citing judgments
Mangla Homes\n(P) Ltd. v. ITO
360 ITR 187 · 2014 · High Court
10
citing judgments
403 ITR 453 (Kar) (FB) Swire Holdings (P.) Ltd. v. ITO
6 SOT 621 · 2006 · ITAT
5
citing judgments

Judgments on Section 24(a)

SURESH KUMAR ,BENGALURU vs. INCOME TAX OFFICER, WARD-2(2)(3), BENGALURU

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

ITA 3012/BANG/2025[2018-19]Status: DisposedITAT Bangalore30 Mar 2026AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year : 2018-19

For Appellant: Sri Naresndra Sharma, A.RFor Respondent: Sri Ganesh R Ghale, Standing Counsel for Revenue
Section 143(2)Section 144Section 24Section 250

H.L. MALHOTRA AMD COMPANY PRIVATE LIMITED,DELHI vs. DCIT, CIRCLE 12(1), DELHI

In the result, the appeal of the assessee is allowed

ITA 3405/DEL/2025[2010-11]Status: DisposedITAT Delhi13 Mar 2026AY 2010-11
Section 143(3)Section 24

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

ITA 2576/CHNY/2025[2016-17]Status: DisposedITAT Chennai09 Mar 2026AY 2016-17

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

ITA 2575/CHNY/2025[2015-16]Status: DisposedITAT Chennai09 Mar 2026AY 2015-16

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

ITA 2573/CHNY/2025[2013-14]Status: DisposedITAT Chennai09 Mar 2026AY 2013-14

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(4), MUMBAI, MUMBAI vs. MANISHA KAMAL KHETAN, MUMBAI

ITA 7891/MUM/2025[2023-24]Status: DisposedITAT Mumbai20 Feb 2026AY 2023-24

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokar

HEMANT DAHYALAL BHATT,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7913/MUM/2025[2018-19]Status: DisposedITAT Mumbai12 Feb 2026AY 2018-19

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

HEMANT DAHYALAL BHATT ,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7912/MUM/2025[2017-18]Status: DisposedITAT Mumbai12 Feb 2026AY 2017-18

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

HEMANT DAHYALAL BHATT ,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7911/MUM/2025[2016-17]Status: DisposedITAT Mumbai12 Feb 2026AY 2016-17

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

HEMANT DAHYALAL BHATT ,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7910/MUM/2025[2015-16]Status: DisposedITAT Mumbai12 Feb 2026AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

HEMANT DAHYALAL BHATT ,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7909/MUM/2025[2014-15]Status: DisposedITAT Mumbai12 Feb 2026AY 2014-15

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

HEMANT DAHYALAL BHATT,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7908/MUM/2025[2013-14]Status: DisposedITAT Mumbai12 Feb 2026AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

HEMANT DAHYALAL BHATT,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeals of the assessee for assessment years 2012–13 to 2016–17 are allowed, and appeals for assessment years 2017–18 and 2018–19 are allowed for statistical purposes

ITA 7907/MUM/2025[2012-13]Status: DisposedITAT Mumbai12 Feb 2026AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 10(14)Section 10(14)(ii)Section 144Section 153ASection 24

SHARDA CHAMBERS PREMISE CO OP SOCIETY LTD ,MUMBAI vs. ACIT, 17(3), MUMBAI

In the result, the appeal of the assessee is partly allowed

ITA 6554/MUM/2025[2013-14]Status: DisposedITAT Mumbai23 Jan 2026AY 2013-14

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2013-14

For Appellant: Mr. H.N. MotiwallaFor Respondent: Mr. Vikas Chandra, Sr. DR
Section 143(2)

PENNINTI VIVEKANANDA RAO,HYDERABAD vs. ADIT (INT TAXN)-2, HYDERABAD

In the result, the appeal of the assessee is allowed

ITA 1494/HYD/2025[2020-21]Status: DisposedITAT Hyderabad19 Nov 2025AY 2020-21

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1494/Hyd/2025 (िनधा"रण वष"/Assessment Year: 2020-21) Shri Penninti Vivekananda Vs. Adit (International Rao, Hyderabad Taxation)-2 Pan:Ayupp1895L Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Advocate H Srinivasulu राज" व "ारा/Revenue By:: Smt. U Mini Chandran, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 13/11/2025 घोषणा की तारीख/Pronouncement: 19/11/2025 आदेश/Order Per Madhusudan Sawdia, A.M.: This Appeal Is Filed By Shri Penninti Vivekananda Rao (“The Assessee”), Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-10, Hyderabad (“Ld. Cit(A)”) Dated 29.07.2025 For The A.Y 2020-21. 2. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Advocate H SrinivasuluFor Respondent: : Smt. U Mini Chandran, CIT(DR)
Section 143(2)Section 270A

NARENDRA RUPCHAND MADHANI,MUMBAI vs. DCIT CENTRAL CIRCLE 5(4), MUMBAI

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

ITA 4896/MUM/2025[2021-22]Status: DisposedITAT Mumbai12 Nov 2025AY 2021-22

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarnarendra Rupchand Madhani V/S. Deputy Commissioner Of 32, Purnima Apartment, 42, बनाम Income Tax, Central Circle – Ridge Road, Walkeshwar, Opp. 5(4), Kautilya Bhavan, Rekha Building, Mumbai– Mumbai – 400051, 400006, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aavpm5613L Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Prateek Jain,ARFor Respondent: Shri Leyaqat Ali Aafaqui (Sr. AR)
Section 143(3)Section 24Section 69A

SHRI NATARAJAN SOMASUNDARAM,CHENNAI vs. ITO, NCW-8(2), CHENNAI

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

ITA 788/CHNY/2025[2018-19]Status: DisposedITAT Chennai07 Nov 2025AY 2018-19

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.788/Chny/2025 िनधा"रण वष"/Assessment Year: 2018-19 Shri Natarajan Somasundaram, Vs. The Income Tax Officer, E-105, Periyar Vegetable Market, Non-Corporate Ward 8(2), Koyambedu, Chennai 600 092. Chennai. [Pan:Aajps6303B] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Anand, Advocate ""थ" की ओर से/Respondent By : Ms. Gouthami Manivasagam, Jcit सुनवाई की तारीख/ Date Of Hearing : 24.09.2025 घोषणा की तारीख /Date Of Pronouncement : 07.11.2025 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 04.10.2023 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi For The Assessment Year 2018-19. 2. We Find That This Appeal Is Filed With A Delay Of 443 Days. The Assessee Filed An Affidavit For Condonation Of Delay Stating The Reasons. Upon Hearing Both The Parties & On Examination Of The Said Affidavit, In The Interest Of Justice, We Condone The Delay Of 450 Days By Imposing Cost

For Appellant: Shri D. Anand, AdvocateFor Respondent: Ms. Gouthami Manivasagam, JCIT
Section 24Section 32

ASHA BURMAN,NEW DELHI vs. ACIT CIRCLE 46(1), NEW DELHI

In the result, appeals of the Assessee are partly allowed for

ITA 543/DEL/2024[AY 2016-17]Status: DisposedITAT Delhi04 Nov 2025

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraआ.अ.सं/.I.T.A Nos.539 To 544/Del/2024 िनधा"रणवष"/Assessment Years:2012-13 To 2017-18 बनाम Asha Burman Acit, 4Th Floor, Punjabi Bhawan, Vs. Circle 46(1), 10, Rouse Avenue, New Delhi. Drum Shape Building, Ito, Pan No.Aaepb0966C New Delhi. अपीलाथ" Appellant ""यथ"/Respondent

Section 143(3)Section 24

MANSHA TEXTILES PVT. LTD.,VADODARA vs. THE ITO, WARD-2(1)(1), VADODARA

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

ITA 1396/AHD/2025[2012-13]Status: DisposedITAT Ahmedabad13 Oct 2025AY 2012-13

Bench: Shri Siddhartha Nautiyal & Shri Makarand V.Mahadeokarasstt.Year : 2012-13 Mansha Textiles P. Ltd. The Ito, Ward-2(1)(1) 1, Vikram Society Vadodara. Gotri Road, Vadodara Pan : Aadcm 0191 J (Applicant) (Responent) Assessee By : Ms.Urvashi Shodhan, Ar Revenue By : Shri B.P. Srivastava, Sr.Dr सुनवाई क" तारीख/Date Of Hearing : 09/10/2025 घोषणा क" तारीख /Date Of Pronouncement: 13/10/2025 आदेश आदेश/O R D E R आदेश आदेश

For Appellant: Ms.Urvashi Shodhan, ARFor Respondent: Shri B.P. Srivastava, Sr.DR
Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 24

S V ASSOCIATES,MUMBAI vs. ITO - 22(3)(1), MUMBAI

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

ITA 162/MUM/2025[2015-16]Status: DisposedITAT Mumbai13 Oct 2025AY 2015-16

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 147Section 24Section 250

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