In the result, the appeal filed by the assessee is partly allowed

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am It(Tp)A No.2310/Bang/2019 : Asst.Year 2015-2016 M/S.Gmr Enterprises Pvt. Ltd. The Dy.Commissioner Of (Successor To Gmr Holdings P.Ltd) Income-Tax, Central Circle 2(2) V. Bangalore. No.25/1 Skip House, Museum Rd. Bangalore – 560 025. Pan : Aaccr1554R. (Appellant) (Respondent) Appellant By : Sri.Yogesh Thar, Ca Respondent By : Sri.Sumer Singh Meena, Cit-Dr Date Of Pronouncement : 28.10.2021 Date Of Hearing : 25.10.2021 O R D E R Per Bench:- This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 14.10.20199 Passed U/S 143(3) R.W.S. 144C Of The I.T.Act. The Relevant Assessment Year Is 2015-2016. 2. The Assessee Has Raised Five Grounds & Various Sub Grounds. The Assessee By Its Application Dated 13.07.2020 Has Also Raised An Additional Ground. The Learned Ar During The Course Of Hearing Submitted That Grounds No.Ii & Iii May Be Adjudicated & The Other Grounds May Be Left Open. Therefore, Grounds No.Ii & Iii Are Reproduced Below:-

142A of the Act; and 3 IT(TP)A No.2310/Bang/2019. M/s GMR Enterprises Private Limited. d) Section 56(2)(viib) of the Act being an anti-avoidance provision introduced with the intention of deterring generation and use of unaccounted money, would not apply to cases where the issue of shares is to the existing shareholders on proportionate basis or genuine