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“Section 50(2)(vii)”

Section References (mined)Section 50Section 50(2)(vii)2 judgments

RAKESH AGARWAL ,ALIGARH vs. PCIT AGRA-1, AGRA

In the result, both the appeals of the assessee are allowed

ITA 205/AGR/2025[2016-17]Status: DisposedITAT Agra13 Oct 2025AY 2016-17

Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh

Section 142(1)Section 147Section 147oSection 148Section 263Section 50Section 50CSection 50C(1)Section 56(2)Section 56(2)(viib)

between the actual consideration paid and the FMV being less than 10% will have to be ignored for applying the provisions of Section 50(2)(vii) in the case of the assessee. Therefore, in the given facts of the case, the view of the Ld. PCIT is not supported

MAMTA AGARWAL,ALIGARH vs. PCIT AGRA-1, AGRA

In the result, both the appeals of the assessee are allowed

ITA 204/AGR/2025[2016-17]Status: DisposedITAT Agra13 Oct 2025AY 2016-17

Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh

Section 142(1)Section 147Section 147oSection 148Section 263Section 50Section 50CSection 50C(1)Section 56(2)Section 56(2)(viib)

between the actual consideration paid and the FMV being less than 10% will have to be ignored for applying the provisions of Section 50(2)(vii) in the case of the assessee. Therefore, in the given facts of the case, the view of the Ld. PCIT is not supported