{"id":63774,"date":"2026-08-04T18:38:50","date_gmt":"2026-08-04T13:08:50","guid":{"rendered":"https:\/\/itatonline.org\/digest\/utility-supply-p-ltd-v-dy-cit-2025-124-itr-324-174-taxmann-com-250-mum-trib\/"},"modified":"2026-08-04T18:38:50","modified_gmt":"2026-08-04T13:08:50","slug":"utility-supply-p-ltd-v-dy-cit-2025-124-itr-324-174-taxmann-com-250-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/utility-supply-p-ltd-v-dy-cit-2025-124-itr-324-174-taxmann-com-250-mum-trib\/","title":{"rendered":"Utility Supply (P.) Ltd. v. Dy. CIT (2025) 124 ITR 324 \/ 174 taxmann.com 250 (Mum.)(Trib.)"},"content":{"rendered":"<p>The assessee, engaged in share trading and investment, purchased shares below their fair market value and held them as stock-in-trade. The Tribunal held that section 56(2)(viia) was enacted as an anti-abuse provision to curb laundering of unaccounted income and applies only to shares constituting capital assets. Shares held as stock-in-trade in the ordinary course of business fall outside its ambit. Since the Department had accepted similar treatment in the case of the assessee&#8217;s sister concern and there was no allegation of money laundering, the addition under section 56(2)(viia) was deleted. (AY. 2017-18).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56: Income from other sources-Shares held as stock-in-trade-Purchase below fair market value-Provision not applicable.[S. 2(14), 56(2)(vii) R. 11UA]<\/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-63774","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gAC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63774","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=63774"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63774\/revisions"}],"predecessor-version":[{"id":63775,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63774\/revisions\/63775"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=63774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=63774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=63774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}