THE ACIT, CIR-1(1), ERNAKULAM, ERNAKULAM vs. SRI.JOSE MATHEW, M/S.E.V.MTHAI & SONS, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

price of Rs. 1 lakh received in cash. This sale deed evidently is a conscious attempt to avoid the provisions of Chapter XX-C. This property is worth nearly Rs. 12 crores and the total declared sale consideration is only Rs. 3 crores. By avoiding a normal sale deed, the assessee has circumvent the provisions of Chapter

THEACIT, CIR-1(1),EKM, ERNAKULAM vs. SRI.E.M.JOHNY, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals