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2017 (12) TMI 792 - ITAT AGRAReference of matter to the Valuation Cell u/s 142A - rejection of books of accounts - Held that:- Reference made by the AO u/s 142A of the Act without rejection of the assessee’s books of account is invalid. The Additional Grounds are are, accordingly, accepted. This issue was raised by the assessee before the ld. CIT(A) by way of written submissions, as reproduced in the impugned order. However, the ld. CIT(A) has not decided this issue. There is no merit in the Department’s contention that the extant section 142A is applicable retrospectively. The section has specifically been made applicable, by the legislature itself, w.e.f. 1.10.2014 and so, it cannot be said to operate retrospectively.
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