Society-Funded Property in Personal Name Triggers Gift Tax

Himanshu Kukreja Vs ITO (ITAT Delhi) Property Bought in Individual Name, Paid by Society = Taxable Gift: ITAT Delhi Upholds ₹8.64 Cr Addition u/s 56(2)(vii) Delhi ITAT (Dehradun Bench), in Himanshu Kukreja vs. ITO (ITA No.147/Del/2024, AY 2016-17, order dated 23.12.2025), dismissed the assessee’s appeal and upheld addition of ₹8,64,15,000 u/s 56(2)(vii)(b), treating the immovable property received without consideration as taxable income in the hands of the individual assessee. The Assessee purchased land admeasuring 18,010.8 sq. mtrs. at Dehradun through two registered sale deeds dated 2...