1984 (2) TMI 160 - AT - Income Tax

Summary

The department appealed the AAC's decision to accept a transfer consideration of Rs. 30,000 instead of Rs. 50,000. The ITAT Gauhati confirmed the AAC's decision based on a previous Tribunal case, stating there was no evidence of tax avoidance. The appeal was dismissed. (Case Citation: 1984 (2) TMI 160 - ITAT GAUHATI)