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2010 (9) TMI 139 - DELHI HIGH COURTValuation of asset - AO has worked out the difference in assets by making a reference to DVO - AO had not brought any material on record to prove that assessee had received consideration more than what was mentioned in the sale deed -Assessing Authority (AO) could not have referred the matter to the Departmental Valuation Officer (DVO) without books of accounts being rejected - books were never rejected - Held that: - Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO) - Opinion of the DVO per se is not an information for the purposes of reopening assessment under Section 147 - no merit in the Civil Appeal - The Department was not entitled to reopen the assessment – Appeal is dismissed.
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