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Judgment
PER SATBEER SINGH GODARA, JM
This Revenue’s appeal for assessment year 2019-20, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2025-26/1081841659(1), dated 17.10.2025 involving proceedings under section 147 r.w.s 144 r.w.s 144B of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties. Case file perused.
Coming to the Revenue’s sole substantive ground raised in seeking to revive section 56(2)(x) addition of Rs. 2,21,58,000/-made by the Assessing Officer in his assessment order dated 28.02.2025 and reversed in the CIT(A) discussion, it emerges that the same represents the difference between the assessee’s actual purchase price viz-a-viz corresponding stamp value thereof, involving four immovable properties concerned.
That being the clinching case, the Revenue could hardly dispute that none of the aforesaid four immovable properties forming the subject matter herein happens to be a “capital asset” going by section 26(2)(vii) Explanation (d)(i) of the Act; defining a “property”; as under:
“property” means the following capital asset of the assessee, namely:—…………………”
Faced with this situation, we are of the considered view that the learned CIT(A) has rightly interfered with the impugned addition made in the assessment proceedings in the assessee’s hands. The Revenue fails in its instant sole substantive ground therefore.
This Revenue’s appeal is dismissed.