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2014 (4) TMI 896 - GUJARAT HIGH COURTPartial Deletion made u/s 69B of the Act – Unexplained investment in house property – Reliance placed upon DVO’s report – Held that:- Following Goodluck Automobiles Pvt. Ltd. v. Assistant Commissioner of Income tax [2012 (9) TMI 157 - Gujarat High Court] - There is nothing in the assessment order to suggest that the AO had any doubt regarding the cost of construction or that he was not satisfied regarding the correctness or completeness of the books of account - the only reason for making the addition u/s 69 of the Act is that there is a difference in the cost of construction as determined by the Valuation Officer and as shown by the assessee - At no stage of the assessment proceedings does the AO appear to have mentioned that the books of account are defective or that the cost of construction as shown in the books of account is not the true cost of construction - unless the books of accounts are rejected, the AO cannot make a reference to the Valuation Officer - The reference made to the Valuation Officer, not being in consonance with the provisions of law was invalid - the report made by the Valuation Officer pursuant to such an invalid reference could not have been made the basis for addition u/s 69 of the Act – no substantial question of law arises for consideration - Decided against Revenue.
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