https://www.taxtmi.com/caselaws?id=774841 HC held that no additions could be made to the assessees' income u/s 68 on the basis of estimated market value of the Prithviraj Road property, as the assessees had neither sold nor transferred their title or interest in that property during the relevant assessment year. Any income or deemed income, if at all, arose in the hands of the shareholders who transferred shares, not in the hands of the assessees whose shares were transacted. The characterization of the property as stock-in-trade or otherwise was held irrelevant for s.68. Finding no ambiguity in the CIT(A)'s conclusions, HC set aside ITAT's remand and restored the CIT(A)'s order deleting the additions. en-us Wed, 09 Jul 2025 00:00:00 +0530 Mon, 01 Dec 2025 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774841 HC held that no additions could be made to the assessees' income u/s 68 on the basis of estimated market value of the Prithviraj Road property, as the assessees had neither sold nor transferred their title or interest in that property during the relevant assessment year. Any income or deemed income, if at all, arose in the hands of the shareholders who transferred shares, not in the hands of the assessees whose shares were transacted. The characterization of the property as stock-in-trade or otherwise was held irrelevant for s.68. Finding no ambiguity in the CIT(A)'s conclusions, HC set aside ITAT's remand and restored the CIT(A)'s order deleting the additions. Case-Laws Income Tax Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774841