SHRI HARISHANKAR SINGH & SMT. SAROJ DEVI CHARITABLE TRUST,,KUSHINAGAR vs. DCIT, RANGE - II, GORAKHPUR
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 79/VNS/2019[2011-2012]Status: DisposedITAT Varanasi27 May 2022AY 2011-2012
Bench: Shri.Vijay Pal Raoassessment Year: 2011-12 Shri Harishankar Singh & Smt. V. Dy. Cit, Saroj Devi Charitable Trust, Range-Ii, Gorakhpur Kushinagar, U.P. Pan-Aahas7138P (Appellant) (Respondent) Appellant By: Sh. R.L. Verma, Advocate Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 25.05.2022 Date Of Pronouncement: 27.05.2022
For Appellant: Sh. R.L. Verma, AdvocateFor Respondent: Sh. A.K. Singh, Sr. D.R
Section 69
section 69 of the Income Tax Act as an unexplained investment for purchase of land. The assessee challenged the action of the AO before the CIT(A) and contended that there was no exchange of purchase consideration as the land in question was transferred by the trustee/manager of the assessee trust without any consideration. However, the Sh. Harishankar Singh