SILLS KARINGATTIL JOSE,NEDUMKANDOM vs. ITO WARD 2, THODUPUZHA

Appeal is partly allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhsils Karingattil Jose Income Tax Officer Np 3/406, Karingattil Ward - 2, House, Munnar Road Thodupuzha Vs. Nedumkandom P.O. [Pan: Afopj8789C] (Appellant) (Respondent)

depreciated “FMV” of the company shares already held in light of the foregoing case law, the impugned addition be deleted. 9. The Revenue on the other hand has strongly supported the impugned addition made in the assessee’s hands u/s 56(2)(vii)(c)(ii) of the Act. 10. It is in this factual backdrop that we first