DEPUTY COMMISSIONER OF INCOME TAX (IT), VISAKHAPATNAM vs. SHRI APPARAO MUKKAMALA, USA
In the result, the appeal filed by the revenue is dismissed, while for the cross-objection filed by the assessee is allowed
ITA 354/VIZ/2025[2016-17]Status: DisposedITAT Visakhapatnam30 Sept 2025AY 2016-17
Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI BALAKRISHNAN. S, HON’BLE (Accountant Member)
Section 144C(3)Section 147Section 148Section 153CSection 69A
purchase agreement dated 02.09.2015
and an image of a handwritten scribbling were seized. The “agreement”
recorded the transfer of 1,06,900 shares by the assessee at Rs. 657 per share for a total consideration of Rs. 7,02,33,300. 4. On the other hand, the seized scribbling contained entries which the department construed as cash payments to certain
