Alok Kumar vs. Income Tax Officer

Parties Involved

Facts Summary

The assessee, Alok Kumar, appealed against the order of the Commissioner of Income Tax (Appeals) dated 13th September 2022 for the Assessment Year 2012-13. The assessee contested the addition of Rs.42,39,000/- made by the Assessing Officer under section 144 read with section 147 of the Income Tax Act. The Assessing Officer had determined the full value of the property based on the Stamp Duty Valuation Authorities' valuation, which was higher than the sale consideration declared in the sale deed. The Tribunal decided to adjudicate only on the issue of the sustainability of the addition.…

Legal Issues

• 1. Whether the addition of Rs.42,39,000/- made by the Assessing Officer is sustainable?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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