K VIJAYA BHASKAR REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), HYDERABAD
In the result, the appeal filed by the assessee is allowed
ITA 619/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Aug 2022AY 2015-16
Bench: Shri R.K. Panda & Shri Laliet Kumar
For Appellant: Shri K.C. DevdasFor Respondent: Dr. M. Narmada, CIT (DR)
Section 143(3)Section 153ASection 224Section 263Section 56(2)Section 56(2)(vii)
50C;
(b) "fair market value of a property, other than an immovable property, means the value determine in accordance with the method as may be prescribed; (Rule 11U and 11UA)
(c) “jewellery” shall have the meaning assigned to it in the Explanation to sub-clause (1) of clause (14) of section 2
27. A perusal of the above shows that