INDUTCH COMPOSITES TECHNOLOGY PRIVATE LIMITED,VADODARA vs. DEPUTY COMMISSIONER, CIRCLE 1(1)(1), VADODARA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)

price and AO-determined FMV as taxable under section 56(2) (vib), instead of restricting it to the excess over the face value, thereby misconstruing the scope and computation mechanism under the provision 7. The order passed by the learned CIT(A) is bad in law as it fails to consider the evidence submitted, denies the appellant the opportunity

SHALBY LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-4(1)(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed