KUMAR PAPPU SINGH,TANUKU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, , ELURU
In the result, appeal of the assessee is allowed
ITA 270/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam07 Dec 2018AY 2013-14
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.270/Viz/2018 (धििाारण िर्ा/Assessment Year:2013-2014) Sri Kumar Pappu Singh Vs. Dy.Commissioner Of D.No.23-3-26, Sundaram Nagar Income Tax, Sajjapuram Circle-1, Kks Towers, Tanuku Rr Pet, Eluru [Pan : Aeepp2496P] Andhra Pradesh (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
For Appellant: Shri K.C.Devdas, ARFor Respondent: Shri D.K.Sonowal, CIT DR
Section 143(3)Section 263Section 56(2)(vii)
1,00,000
100
10,000,000
From the above details it is established that the company is closely held company and all the shareholders are legal ascendants or descendants as defined in the Act under close relatives. For ready reference the definition of close relative given in the act under section 56(2)(vii
