INDRA NARAYAN TRIPATHI,GORAKHPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, RANGE - 02,, GORAKHPUR
In the result, appeal filed by the assessee in ITA
ITA 5/VNS/2020[2014-2015]Status: DisposedITAT Varanasi04 Jul 2022AY 2014-2015
Bench: Shri Vijay Pal Rao & Shri Ramit Kochar
For Appellant: Shri Ashutosh BhardwajFor Respondent: Shri A.K. Singh, Sr. D.R
Section 143(2)Section 143(3)Section 143(3)(ii)Section 253(3)Section 253(5)Section 52C(2)
50C(2) of the 1961 Act, based upon the differential amount between the value as determined by DVO and the purchase price.
10. We have considered rival contentions and perused the material on record. We have observed that the assessee is an individual who is engaged in wholesale trading of Galla items i.e., Paddy, Rice and Wheat
