{"id":62473,"date":"2026-07-22T18:15:59","date_gmt":"2026-07-22T12:45:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/manoj-devshichhadva-v-itomum-trib-www-itatonline-org\/"},"modified":"2026-07-22T18:15:59","modified_gmt":"2026-07-22T12:45:59","slug":"manoj-devshichhadva-v-itomum-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/manoj-devshichhadva-v-itomum-trib-www-itatonline-org\/","title":{"rendered":"Manoj Devshichhadva v. ITO(Mum.)(Trib.) www.itatonline.org ."},"content":{"rendered":"<div>\n<p>The assessee, a tenant, entered into registered redevelopment agreements under which he was to receive two permanent alternate premises in exchange for surrender of his tenancy rights. The Assessing Officer invoked section 56(2)(x) and taxed the stamp duty value of the alternate premises as income from other sources on the ground that the agreements had been registered during the relevant previous year. The Tribunal held that section 56(2)(x) is attracted only where an assessee <strong data-start=\"917\" data-end=\"938\">actually receives<\/strong> immovable property. Mere execution or registration of a redevelopment agreement creates only a contractual right to receive the property in future and does not constitute receipt of immovable property when the redevelopment project is incomplete, and possession has not been handed over. The Tribunal further held that the allotment of permanent alternate accommodation was not without consideration, since it was granted in exchange for surrender of valuable tenancy rights. Therefore, the essential conditions for invoking section 56(2)(x) were absent. Accordingly, the addition was deleted, and the appeal of the assessee was allowed. (ITA No. 7534\/Mum\/2025 dt. 16-07-2026 ) ( AY. 2018-19 )<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>S. 56: Income from other sources  &#8211;  Redevelopment \u2013 Alternate permanent accommodation received by tenant \u2013 Mere execution and registration of redevelopment agreement, without completion of project and delivery of possession, does not amount to \u201creceipt\u201d of immovable property \u2013 Allotment of alternate premises in lieu of surrender of tenancy rights is for valuable consideration and cannot be taxed under section 56(2)(x). [ S. 2(47), 45, 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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62473","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gfD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62473","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=62473"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62473\/revisions"}],"predecessor-version":[{"id":62474,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62473\/revisions\/62474"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}