IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE – VIRTUAL COURT BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER / Assessment Year : 2015-16 िनधा(cid:5)रण वष(cid:5)

Nayana Jayesh Jain, Kanchan Building, 512, Gurwar Peth, Gawri Ali, Pune-411042. PAN : ATPTJ4910J	Vs.	ITO, Ward-6(4), Pune
Appellant		Respondent

Assessee by Shri Shailesh Oswal Revenue by Smt. Shraddha Nichal Smt. Nishtha Tiwari Date of hearing 28-07-2020 Date of pronouncement 28-07-2020 / ORDER आदशे

PER R.S.SYAL, VP :

This appeal by the assessee is directed against the order passed by the CIT(A)-4, Pune dated 10-07-2019 in relation to the assessment year 2015-16.

2. The only issue raised in this appeal is against the addition on account of valuation of a property, namely, Office Units No.18 &

th

19, 5 Floor, D Tower, Vega Centre, Gultekadi, Pune purchased by the assessee. Succinctly, the facts of the case are that the assessee jointly purchased the afore-referred commercial property.

th The said property was purchased by the assessee, having 1/6 share along with the other five co-owners, for a total consideration at Rs.1,80,00,000/-. Resultantly, the assessee showed

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