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2005 (3) TMI 67 - HC - Income TaxPower of AO for reference to valuation officer - Revenue has not doubted the sale consideration received. The impugned addition is only towards alleged low cost of construction and has been made merely on the basis of the DVO's report - there is no record before us to show that an opportunity was provided to the asses-see before the report of the Valuation Officer was taken into consideration by the Assessing Officer. – Assessing Officer has obviously no jurisdiction to refer the matter to the Valuation Officer in relation to cost of construction of the house property and furthermore, the report of the DVO is stated to have been not disputed. – Held that in the course of assessment proceedings, the Assessing Officer does not have power under the Act to refer to the Valuation Officer the question of the cost of construction of house property. Therefore, in this view of the matter, the reference made to the Valuation Officer was itself without jurisdiction and therefore any addition made in pursuance of such reference is liable to be set aside - Held that impugned addition is untenable
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