Bench: Shri Waseem Ahmed & Shri Soundararajan K.Pallath Nafeesa The Income Tax Officer Poolakkodan House Tirur Athirumada, Punnathala Vs. Tirur, Malappuram 676552 [Pan: Alipn9300R] (Appellant) (Respondent)

section 56(2)(viii) r.w.s. 145A(b) of the Act. In this regard we note that the issue on hand is squarely covered in favour of the assessee by the judgment of Hon’ble Gujarat High court in the case of Movaliya Bhikhubhai Balabhai vs. ITO-TDS reported in70 taxmann.com 45