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)
price paid by the assessee required to be brought to tax under the head ‘income
from other sources’.
13. The Ld.AR submitted that there was no other applicant for the shares under the rights issue, hence, the company had allotted the excess
shares to the assessee over and above his entitlement to his proportionate to the shareholding. The Ld.AR submitted
