THE INCOME TAX OFFICER, MUKTSAR vs. SH. MANPREET SINGH BADAL, MUKTSAR
In the result, the appeal of the Revenue is dismissed
ITA 616/ASR/2015[2007-08]Status: DisposedITAT Amritsar21 Feb 2019AY 2007-08
Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 616/Asr./2015 : Asstt. Year : 2007-08 Income Tax Officer, Vs Shri. Manpreet Singh Badal, Ward-Ii(2), S/O Shri. Gurdas Singh Badal, Muktsar Vill Badal, Distt. Muktsar (Appellant) (Respondent) Pan No. Afjpb2460B
For Appellant: Shri. Ashwani Kalia, CAFor Respondent: Smt. Ratinder Kaur, DR
Section 271(1)(c)Section 275
u/s 271(1)(c) of the Act was imposed after confirmation of addition on account of long term capital gains on sale consideration received by members of Punjab Co- operative Housing Building Society Ltd. The additions
ITA No. 616/Asr./2015
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Manpreet Singh Badal involved full amount of sale consideration accrued to the members which included monetary consideration and value