Section 56(2)(x)(b)(B) of the Income Tax Act

Income-tax Act, 2025: s.92

Section 56(2)(x)(b)(B) falls under section 56 of the Income-tax Act, 1961, which corresponds to section 92 (Income from other sources) of the Income-tax Act, 2025.

Read section 92 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 56(2)(x)(b)(B) is CIT vs. Vijay Flexible Containers (1990) 186 ITR 693 (Bom.) v. CIT vs. Smt. Laxmidevi Ratani & Others (268 ITR 436), cited in 20 of the 27 judgments on BharatTax that turn on this section.

Leading authorities on Section 56(2)(x)(b)(B)

CIT vs. Vijay Flexible Containers (1990) 186 ITR 693 (Bom.) v. CIT vs. Smt. Laxmidevi Ratani & Others
268 ITR 436 · 2004 · High Court
20
citing judgments

Development agreements do not constitute a transfer of ownership of immovable property, and stamp duty valuation provisions are inapplicable to them.

CIT v. Smt. Shakuntala Kantilal
117 Taxmann 95 · 2001 · High Court
9
citing judgments
Balkrishna Venkappa Bhandary v. DICT
169 Taxmann.com 76 · 2024 · ITAT
3
citing judgments

Judgments on Section 56(2)(x)(b)(B)

ITO-23(2)(6), Mumbai vs. Nrb Developers, Mumbai

In the result, the appeal of the revenue bearing ITA No

ITA 5352/MUM/2024[2018-19]Status: HeardITAT Mumbai25 Feb 2025AY 2018-19

Bench: Shri Amarjit Singh & Shri Anikesh Banerjee

For Appellant: Shri. Rushabh MehtaFor Respondent: Mr. Leququt Ali, SR.DR
Section 143(3)Section 144BSection 250Section 56(2)(x)

Nrb Developers, Mumbai vs. National Faceless Assessment Centre, Income Tax Department, Delhi

In the result, the appeal of the revenue bearing ITA No

ITA 5218/MUM/2024[2018-19]Status: HeardITAT Mumbai25 Feb 2025AY 2018-19

Bench: Shri Amarjit Singh & Shri Anikesh Banerjee

For Appellant: Shri. Rushabh MehtaFor Respondent: Mr. Leququt Ali, SR.DR
Section 143(3)Section 144BSection 250Section 56(2)(x)

Alok Gupta, Lucknow vs. Assessing Officer National E-Assessment Centre Delhi, Delhi

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

ITA 404/LKW/2024[2018-19]Status: DisposedITAT Lucknow18 Dec 2024AY 2018-19

Bench: Shri Anadee Nath Misshra

Section 143Section 143(3)Section 56Section 56(2)Section 56(2)(X)

Ashok Keshavlal Dhakan, Mumbai vs. Assessment Unit, National E-Assessment Centre

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

ITA 3265/MUM/2024[2018-19]Status: DisposedITAT Mumbai20 Aug 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Omkareshwar Chidaraassessment Year: 2018-19 Mr. Ashok Keshavlal Assessment Unit, Dhakan, National E-Assessment 18, Anuradha, Centre, Vs. Kastur Park, Mumbai, Borvali West, Maharashtra Maharashtra- 400 092 Pan: Aelpd7898E (Appellant) (Respondent)

For Appellant: Shri Mahesh Rajora, A.RFor Respondent: Shri Abhirama Karthikeyan, Sr. DR
Section 143(3)Section 250Section 56Section 56(2)(x)

Kirankumar Amrutlal Patel, Mehsana vs. The CIT, NFAC, Delhi

In the result, the appeal filed by the Assessee is dismissed for non-prosecution

ITA 459/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad08 Mar 2024AY 2018-19

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 142(1)Section 143(3)Section 50CSection 56(2)(x)

Guhagar Taluka Kunbi Sahakari Patpedhi Ltd, Mumbai vs. ITO Ward 22 (1) (1), Mumbai

ITA 3242/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Feb 2024AY 2018-19

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Haridas BhatFor Respondent: Dr. Kishor Dhule
Section 143(3)Section 56Section 56(2)(x)

Smt Hiral Dhaval Kothari, Mumbai vs. Income Tax Officer WD 30(1) (4), Mumbai

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

ITA 223/MUM/2022[2015-16]Status: DisposedITAT Mumbai30 May 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2015-16 Smt. Hiral Dhaval Kothari, Ito, Ward-30(1)(4), B-403, Sanskriti Building, Kautilya Bhavan, Kedermal Road, Malad (East) Vs. Bandra-Kurla Complex, Mumbai-400 097. Mumbai-400051. Pan No. Aumpk 5669 D Appellant Respondent Assessee By : Mr. Prateek Jha & Mr. Prayag Jha, Ars Revenue By : Mr. Kiran P. Unavekar, Dr Date Of Hearing : 30/05/2022 Date Of Pronouncement : 30/05/2022

For Appellant: Mr. Prateek Jha &For Respondent: Mr. Kiran P. Unavekar, DR
Section 56(2)Section 56(2)(vii)Section 56(2)(x)