SHRI. SRIRAM RUPANAGUNTA,BANGALORE vs. ASISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-5(3)(2), BANGALORE
In the result, the appeal filed by the assessee stands allowed
ITA 31/BANG/2023[2015-15]Status: DisposedITAT Bangalore18 May 2023AY 2015-15
Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2015-16 Shri Sriram Rupanagunta, The Assistant 34 Purva Park Ridge, Commissioner Of Goshala Road, Income Tax, Garudachar Palya, Circle – 5(3)(2), Bangalore – 560 048. Vs. Banglore. Pan: Ahlpr7578N Appellant Respondent Assessee By : Shri Kodhanda Pani, Ca : Shri Kiran .D, Addl. Cit Revenue By (Dr) Date Of Hearing : 13-04-2023 Date Of Pronouncement : 18-05-2023 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 24.11.2022 Passed By Nfac For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Ld.Assessing Officer Erred In Passing The Assessment Order In The Manner In Which It Is Done On The Basis Of Presumptions, Assumptions & Surmises & Inferences, Conjecture & Hypothetical, Than On The Basis Of The Facts.
For Appellant: Shri Kodhanda Pani, CA
Section 111ASection 143Section 2Section 2(14)Section 2(47)Section 234Section 47Section 54E
house property, income from capital gains and income from other sources, claimed exemption u/s 54EC, deductions under chapter VIA, filed the return of income for year under consideration declaring total income of Rs.1,24,27,840/-.
2.2 The assessee being an employee of MNC, was granted
1,00,000 stock options by its US parent company by name
Virident Systems
