2003 (3) TMI 296 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Jodhpur ruled in favor of the assessee for the assessment year 1994-95. The Revenue's appeal against the deletion of addition of Rs. 19,900 as a deemed gift was dismissed. The Tribunal held that the value taken by the Sub-Registrar for stamp duty purposes cannot be considered as the actual sale consideration without evidence to support it. The appeal of Revenue was dismissed.