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“consideration less than FMV”

Capital GainsSection 56(2)(x)Section 56(2)(x)2 judgments

Judgments citing consideration less than FMV

Alka Jain, Panchkula vs. DCIT, Central Circle, Karnal

In the result, both the appeals are dismissed

ITA 2961/DEL/2022[2013-14]Status: DisposedITAT Delhi26 Jun 2024AY 2013-14

Bench: Shri Shamim Yahya & Ms. Madhumita Royi.T.A. Nos. 2960 & 2961/Del/2022 (Assessment Years : 2017-18 & 2013-14) Alka Jain Vs. Dcit House No.66, Sector-7, Central Circle Panchkula, Panipat Karnal Haryana – 134 109 Pan : Abopj 0916 B (Appellant) .. (Respondent)

For Appellant: -None-For Respondent: Shri Kanv Bali, Sr. D.R
Section 143(3)Section 153A(1)(b)Section 250(6)Section 56(2)(vii)Section 68Section 69A

explanation of the AO was considered by the AO and it was observed that the appellant had received shares of JB Rolling for consideration less than FMV of shares. Therefore, the differential amount of Rs. 10,75,000/- was added to the income of the ITA Nos. 2960 & 2961/Del/2022 Alka

Alka Jain, Panchkula vs. DCIT, Central Circle, Karnal

In the result, both the appeals are dismissed

ITA 2960/DEL/2022[2017-18]Status: DisposedITAT Delhi26 Jun 2024AY 2017-18

Bench: Shri Shamim Yahya & Ms. Madhumita Royi.T.A. Nos. 2960 & 2961/Del/2022 (Assessment Years : 2017-18 & 2013-14) Alka Jain Vs. Dcit House No.66, Sector-7, Central Circle Panchkula, Panipat Karnal Haryana – 134 109 Pan : Abopj 0916 B (Appellant) .. (Respondent)

For Appellant: -None-For Respondent: Shri Kanv Bali, Sr. D.R
Section 143(3)Section 153A(1)(b)Section 250(6)Section 56(2)(vii)Section 68Section 69A

explanation of the AO was considered by the AO and it was observed that the appellant had received shares of JB Rolling for consideration less than FMV of shares. Therefore, the differential amount of Rs. 10,75,000/- was added to the income of the ITA Nos. 2960 & 2961/Del/2022 Alka