#Section 56 Income Tax Act

ITAT Delhi rules that RERA-mandated compensation for delayed possession constitutes a transfer of capital asset, not interest income, and must be taxed as long-term capital gains. This precedent clarifies tax treatment for homebuyers receiving compensation under RERA, impacting real estate transactions and tax filings.

ITAT Bangalore rules that an appellate order confirming protective additions under Section 56 is invalid if substantive additions remain unexamined. The Tribunal emphasizes due process and burden of proof, setting aside orders where reassessment lacked proper scrutiny of primary income additions.