AKUNURI SAI AVINASH,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE (INTERNATIONAL TAXATION), VISAKHAPATNAM
In the result, appeal of the assessee is partly allowed for statistical purposes as indicated herein above
ITA 42/VIZ/2023[2016-17]Status: DisposedITAT Visakhapatnam12 Apr 2024AY 2016-17
Bench: Shri Duvvuru Rl Reddy, Hon‟Ble & Shri S Balakrishnan, Hon‟Bleआयकरअपीलसं./ I.T.A. No.42/Viz/2023 (धनधाारणिर्ा/ Assessment Year : 2016-17) Akunuri Sai Avinash, Vs. The Asst. Commissioner Of Rep. By Gpa Holder Dr. Akunuri Income Tax, Sai Babu, Circle (International Taxation), Visakhapatnam. Visakhapatnam. Pan: (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent) अपीलाथीकीओरसे/ Assessee By : Sri Gvn Hari, Ar प्रत्याथीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुनिाईकीतारीख/ Date Of Hearing : 26/03/2024 घोर्णाकीतारीख/Date Of : 12/04/2024 Pronouncement O R D E R Per S. Balakrishnan:
For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 144CSection 147Section 148Section 50C
144C of the Act to tax Rs.49,04,000/- under the head „capital gains‟
during the AY 2016-17. Being aggrieved by the draft assessment order, the assessee filed its objections before the Ld. DRP. The Ld. DRP directed the Ld. AO to get the property valued by the Valuation Officer of Income Tax Department. The Ld. DVO valued
