Which cases are most cited on Section 47?

CIT v. Texspin Engg. & Mfg. Works (263 ITR 345) — 23 citing judgments; CIT v. Scindia Steam Naviagation Co. Ltd. (125 ITR 118) — 4 citing judgments.

How many judgments are there on Section 47?

BharatTax indexes 74 ITAT, High Court and Supreme Court judgments that turn on Section 47 of the Income Tax Act, 1961.

Section 47 of the Income Tax Act

Q: What is the leading case on Section 47 of the Income Tax Act?

CIT v. Texspin Engg. & Mfg. Works (263 ITR 345) is the decision most relied on for Section 47, cited in 23 judgments. Capital gains tax cannot be levied if no consideration is received for a transfer. The market value of the asset transferred cannot be substituted for the actual consideration received.

Income-tax Act, 2025: s.70

Section 47 of the Income-tax Act, 1961 corresponds to section 70 (Transactions not regarded as transfer) of the Income-tax Act, 2025.

Read section 70 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 47 is CIT v. Texspin Engg. & Mfg. Works (263 ITR 345), cited in 23 of the 74 judgments on BharatTax that turn on this section.

Leading authorities on Section 47

CIT v. Texspin Engg. & Mfg. Works

263 ITR 345 · 2003 · High Court

citing judgments

Capital gains tax cannot be levied if no consideration is received for a transfer. The market value of the asset transferred cannot be substituted for the actual consideration received.

CIT v. Scindia Steam Naviagation Co. Ltd.

125 ITR 118 · High Court

citing judgments

Judgments on Section 47

C.R.Parthiban, Chennai vs. ITO, Chennai

In the result, the appeal of the Assessee it is dismissed

ITA 1023/CHNY/2017[2012-2013]Status: DisposedITAT Chennai31 Mar 2022AY 2012-2013

Bench: Shri Mahavir Singhand Dr. M.L. Meenaआयकर अपील सं./Ita No.:1023/Chny/2017 िनधा"रण वष"/Assessment Year: 2012 - 2013

For Appellant: Mr. K. Gopalakrishnan, AdvocateFor Respondent: Mr. Guru Bashyam, CIT

Section 143(1)Section 143(2)Section 143(3)Section 45Section 47Section 54

Smt Beena Shammi Chaudhari, Pune vs. ITO., Ward 6(4), Pune

In the result, the appeal is allowed

ITA 1849/PUN/2018[2009-10]Status: DisposedITAT Pune17 Feb 2022AY 2009-10

Bench: Shri R.S. Syalनिर्धारण वषा / Assessment Year : 2009-10 Smt. Beena Shammi Chaudhari Vs. Ito, Ward B/3-302, Silver Oak, Florien Estates, 6(4), Pune Kalyani Nagar, Pune – 411014 Pan : Adypc5109R Appellant Respondent Assessee By Shri V.L. Jain Revenue By Shri M.G. Jasnani Date Of Hearing 16-02-2022 Date Of Pronouncement 17-02-2022

Section 148Section 254(1)Section 254(2)

Jsw Logistics Infrastructure Pvt. Ltd., Mumbai vs. DCIT - 5 (2)(1), Mumbai

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

ITA 5814/MUM/2018[2014-15]Status: DisposedITAT Mumbai30 Nov 2021AY 2014-15

Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2014-15 M/S Jsw Logistics Infrastructure Pvt. Ltd., Dcit-5(2)(1), Jsw Centre, Bandra Kurla Complex, Vs. Mumbai. Bandra (E), Mumbai-400051. Pan No. Aaccj 5104 F Assessee Respondent

For Appellant: Mr. Gavrav Kabra, ARFor Respondent: Mr. S.N. Kabra, DR

Section 143(2)Section 143(3)Section 56Section 56(2)Section 56(2)(via)Section 56(2)(viia)

Pr Commissioner of Income Tax - 04, New Delhi vs. Hcl Comnet Systems and Services Ltd

ITA/66/2021HC Delhi24 Mar 2021

Bench: HON'BLE MR. JUSTICE RAJIV SHAKDHER,HON'BLE MR. JUSTICE TALWANT SINGH

Tml Drivelines Limited ( Since Merged With Tata Motors Limited), Mumbai vs. Deputy Commissioner of Income Tax(Ltu) 2, Mumbai

In the result, appeal filed by department is dismissed

ITA 1198/MUM/2019[2014-15]Status: DisposedITAT Mumbai18 Dec 2020AY 2014-15

Bench: Shri C.N. Prasad, Jm & Shri M.Balaganesh, Am M/S. Tata Motors Ltd., Vs. Addl. Commissioner Of (Successor To Tml Drivelines Income Tax-2(1) Ltd.) Aayakar Bhavan 1St Floor, Bombay House Mumbai – 400 020 24, Homi Mody Street Hutatma Chowk Mumbai – 400 001 Pan/Gir No.Aaach7625P (Appellant) .. (Respondent) Deputy Commissioner Of Vs. M/S. Tata Motors Ltd., Income Tax (Ltu-2) (Successor To Tml Drivelines 29Th Floor, Center-1, Ltd.) 3Rd Floor, Tata Motors, World Trade Center, Cuffe Parade, Mumbai Nanavati Mahalaya, 18 Homi Mody Street Mumbai – 400 001 Pan/Gir No.Aaach7625P (Appellant) .. (Respondent)

Section 143(3)Section 14A

Chandravadan C. Pithawalla, Mumbai vs. ITO (It) - 3(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 7469/MUM/2018[2013-14]Status: DisposedITAT Mumbai27 Jul 2020AY 2013-14

Bench: Shri Pawan Singh & Shri Rajesh Kumar

Section 54E

Tirumalasetti Srinivasa Rao, Visakhapatnam vs. Deputy Commissioner of Income Tax (International Taxation), Visakhapatnam

In the result, appeal of the assessee is dismissed

ITA 27/VIZ/2019[2008-09]Status: DisposedITAT Visakhapatnam18 Jul 2019AY 2008-09

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.27/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2008-09) Shri Tirumalasetti Srinivasa Rao Vs. Dy.Commissioner Of Q.No.116, Siddhartha Nagar Income Tax Vadlapudi (International Taxation) Visakhapatnam Visakhapatnam [Pan :Adlpr3679N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 12.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt Suman Malik, DR

Section 142(1)Section 144Section 148