{"id":56222,"date":"2025-08-22T10:58:38","date_gmt":"2025-08-22T05:28:38","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pinstripe-properties-p-ltd-v-dy-cit-2025-212-itd-223-mum-trib\/"},"modified":"2025-08-22T10:58:38","modified_gmt":"2025-08-22T05:28:38","slug":"pinstripe-properties-p-ltd-v-dy-cit-2025-212-itd-223-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pinstripe-properties-p-ltd-v-dy-cit-2025-212-itd-223-mum-trib\/","title":{"rendered":"Pinstripe Properties (P.) Ltd. v. Dy.CIT (2025) 212 ITD 223 (Mum) (Trib.)"},"content":{"rendered":"<p>Assessee purchased property.\u00a0 Assessing Officer held\u00a0 that stamp value of said property was higher than purchase price. He\u00a0 made addition of\u00a0 difference of such amount to assessee&#8217;s total income under section 56(2)(x)\u00a0 of the Act. CIT(A) affirmed the order of the AO. On appeal the Tribunal held that\u00a0 the\u00a0 demonstrated from relevant supporting material that allotment of new flat had been made to assessee in continuation of replacing of earlier allotment which was changed because of unavoidable circumstances of change in Development Control Regulation, as per proviso to section 56(2)(x) first allotment letter was to be considered as agreement to sell. Addition is deleted.\u00a0 (AY. 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources-Part consideration was paid as per allotment letter-Allotment of new flat was made in continuation of replacing of earlier allotment letter-Addition is deleted.[S. 56(2)(x)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-56222","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eCO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=56222"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56222\/revisions"}],"predecessor-version":[{"id":56223,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56222\/revisions\/56223"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=56222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=56222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}