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)

5 Sils Karingattil Jose could not have held to have “received” u/s 56(2)(vii) of the Act, being in the nature of mere creations than transfer in light of (2024) 460 ITR 628 (Guj.) PCIT Vs. Jigar Jashwantlal Shah rejecting the Revenue’s identical stand as under: 6. Section 56(2)(vii)(c) of the Act, reads as under