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2017 (1) TMI 1257 - ALLAHABAD HIGH COURTReference to DVO - non rejection of books of accounts - addition u/s 69 - Held that:- The Tribunal while discussing and examining the matter has come to the conclusion that the books of accounts as maintained by the assessee have not been rejected by the AO and such being the defect of the case, it is not open to the AO to refer the matter to the Department Valuation Officer (DVO) for determining the value of the property and in absence of the same the tribunal has come to the conclusion that no addition would have been made on account of investment under Section 69 of the Income Tax Act to the income of the assessee. Assessee has also relied upon a decision in the case of Sargam Cinema Vs. Commissioner of Income Tax [2009 (10) TMI 569 - Supreme Court of India] wherein held that once it is found that Books of accounts of the assessee have not been rejected by the AO then it will not be open to him to refer the matter for valuation. This is also the consistent view of the several High Courts. - Decided in favour of assessee
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