Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleacit, Circle-4(1), Vs. Y. Venkanna Choudary, Visakhapatnam. D.No. 1-1-2, C/O Anuradha Auto Centre, Sheela Nagar, Nh-5, Visakhapatnam. Pan No. Aanpy 3003 G (Appellant) (Respondent) C.O.No. 108/Viz/2019 (Arising Out Of Ita No. 272/Viz/2018) (Asst. Year : 2014-15) Y. Venkanna Choudary, Vs. Acit, Circle-4(1), D.No. 1-1-2, C/O Anuradha Visakhapatnam. Auto Centre, Sheela Nagar, Nh-5, Visakhapatnam. Pan No. Aanpy 3003 G (Appellant) (Respondent)

36,503 Paid up value of equity capital Rs. 3,85,05,600 Fair market value (A-L)*PE/PV Rs. 13.46 per share Value of 4,25,000 shares Rs. 57,20,500/- Face value of shares Rs. 42,50,000 Difference being income u/s 56 Rs. 14,70,500/- d) Similarly, the value of shares as on 26/03/2014 would