COMMISSIONER OF INCOME-TAX Vs. JUMRAMAL SON

JUDGEMENT

(1.) THIS second appeal has been filed by the Commissioner of Income -tax, under Section 269H of the I.T. Act, 1961, against the judgment of the Income -tax Appellate Tribunal, 'A' Bench, Allahabad, dated April 29, 1975.

(2.) ASUDA Singh sold half of his house No. 122/722, Hariharnath Shastry Nagar, Kanpur, to Jumramal and 1/4 each of the same house to his two sons Ghanshyam Das and Dwarka Das, sale consideration being Rs. 60,000.

(3.) THE Competent Authority through the valuation report submitted by the Valuation Officer at Rs. 92,600 had reasons to believe :