Home Highlights May 2014 Year 2014 This

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1. Validity of making a reference to the DVO u/s 142A - unexplained expenditure u/s 69C - ejection of books of accounts is a pre-condition for making a reference to DVO and...

2. Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

3. Capital gain - Valuation of the property sold by the assessee - reference to DVO - ITAT noted that the reference made by the AO to the VO was not in accordance with the...

4. Jurisdiction of CIT(A) to make a reference to DVO to determine the FMV of the property - The Revenue insists that the power is being exercised only under Section 250(4)...

5. Reference made to DVO for determination of FMV u/s 55A(a) - AO before making a reference to the Valuation Officer has not brought anything on the record indicating that...

6. LTCG - valuation - reference could be made to DVO only if the value declared by the assessee is in the opinion of AO less than its fair market value - in this case FMV...

7. Reference of matter to DVO - assessee challenged the fair market value adopted by the assessing officer during the course of assessment proceeding itself and made a...

8. Validity of reference made to the Departmental Valuation Officer (DVO) u/s 55A - The provisions of Section 55A(b)(ii)can be invoked only in case the valuation report is...

9. Addition made u/s 69 - reference to DVO - reference to valuation cell u/s. 142A can be made during the course of assessment and reassessment and not for the purpose for...

10. Before making reference to the DVO for estimating the cost of investment in the construction of property, the books of account maintained by the assessee in this regard...

11. Reference to DVO - Determination of cost of acquisition - if the value declared by an assessee on the strength of registered valuer’s report is more than the fair market...

12. Reference to the DVO - Proceedings u/s 153-C has been held without jurisdiction - whether reference to DVO in 153-C proceeding is valid - Once the very basis for...

13. Computation of capital gain - If after such reference, the value fixed by the stamp valuation authorities is still to adopted, ignoring the lower value fixed by the DVO...

14. Revision u/s 263 by CIT - Non reference of matter to the TPO - no prudent business person properly instructed in law would have inferred the TP risk parameter as a...

15. Unexplained investment u/s. 69 - DDIT (Inv.) could not have referred the question of cost of construction/valuation of the assessee’s building to the Valuation Officer...