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Section 2638 Section 143(3)4

MAX FINANCIAL SERVICE LIMITED ,NAWANSHAHR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

In the result, the appeal of the assessee is therefore partly allowed

ITA 121/ASR/2020[2015-16]Status: DisposedITAT Amritsar31 Mar 2021AY 2015-16

For Appellant: Shri Deepak ChopraFor Respondent: Smt.Prabhjot Kaur, CIT

Section 143(3)Section 263

Transfer Consideration has been revised to 277 crores. During the course of the 263 proceedings ample opportunity were given to the assessee to explain the reason for change in value from Rs.305 to 277 crores. No valid explanation could be given by the assessee. He was unable to explain through a valid acceptable argument as to how the value