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2010 (12) TMI 846 - HC - Income TaxDetermination of fair market value of property - reference to District valuation officer - section 48 read with section 45(5) - Whether AO bound to accept the value stated in the registered sales deed - held that:- the primary burden of proof to prove understatement or concealment of income is on the Revenue and it is only when such burden is discharged that it would be permissible to rely upon the valuation given by the District Valuation Officer. It was also held that the opinion of the Valuation Officer per se was not an information and could not be relied upon without the books of account being rejected which had not been done in that case. - Decided in favor of assessee.
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