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2014 (1) TMI 493 - HC - Income TaxValuation of property - Held that:- Following Sargam Cinema Versus. Commissioner of Income-tax [2009 (10) TMI 569 - Supreme Court of India] - Without there being rejection of the valuation of the property constructed as shown in the books of account, the reference under section 142A of the Act was not justified - The difference in the valuation which has been claimed by the revenue as per the valuation report of the DVO amounting to Rs. 2,35,933/- on estimate basis cannot be said to be unexplained investment - Decided against Revenue.
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