Anwar Hussain Khan, Bulandshahr vs. ACIT, Circle, Bulandshahr
In the result, appeal of assessee is dismissed
ITA 2955/DEL/2018[2014-15]Status: DisposedITAT Delhi17 Oct 2023AY 2014-15
Bench: Sh. G. S. Pannu & Shri Chandra Mohan Gargshri Anwar Hussain Khan Vs. Acit S/O. Shri Maqshood Circle Hussain, C/O. Royal Gas Bulandshahr Services, G.T. Road Khurja, Bulandshahr Pan No. Aamph 9619 N (Appellant) (Respondent) Assessee By Dr. Rakesh Gupta, Adv. & Shri Somil Aggarwal, Adv. Revenue By Shri Kanv Bali, Sr. D.R. Date Of Hearing: 09.10.2023 Date Of Pronouncement: 17.10.2023
Section 56(2)(vii)
share as per the value mentioned in the purchase deed is Rs. 49,80,000/-. The AO has applied the provisions of section 56(2)(viia) (b) and added the difference of Rs. 74,55,500/- to the total income. The appellant is contending that the said land ... stock in trade and therefore, provisions of section 56(2) (viia) (b) are not applicable. In the remand report, the AO has argued that the documents produced by the appellant are self drafted and self arranged and have been created just to avoid mischief of section 56(2)(viia)(b
