CLINT MARTEL WILFRED,ERNAKULAM vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, KOCHI, KOCHI
In the result, the appeal of the assessee is allowed
ITA 206/COCH/2021[2016-2017]Status: DisposedITAT Cochin19 Dec 2022AY 2016-2017
Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.Assessment Year : 2016-17
For Appellant: Shri Saroj Kumar Parida, AdvocateFor Respondent: Smt. J M Jamuna Devi, Sr. AR
Section 143(2)Section 154Section 50C
section 50C cannot be applied here since the transaction happened with the Govt. entity, Cochin Corporation, and there is no hidden transactions in this case. The AO did not accept the contention and brought to tax the difference amount of Rs.21,54,000. Aggrieved, the assessee filed an appeal before the CIT(A).
4. There was a delay
