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2006 (4) TMI 95 - MADHYA PRADESH HIGH COURTUnexplained investment - no opportunity of hearing was given - Assessing Officer made an addition of Rs. 12,98,328 on account of unexplained investment under section 69 to the income of Rs. 33,646 shown in the revised return and determined the total income as Rs. 13,31,974 - assessment in the present case has not become final and conclusive, particularly when the very issue with regard to valuation of the investment made on construction of Bagria Towers for the purpose of section 69 and for the purpose of assessment is still pending- this revenue’s appeal is allowed and matter is remitted to the Assessing Officer and decide the valuation of the construction and make the assessment afresh after giving reasonable opportunity of hearing to the respondent - we hold that under section AO had the jurisdiction to make the reference to the Valuation Officer to determine the estimate of the value of the construction of Bagria Towers.
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