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2013 (4) TMI 193 - HC - Income TaxDeleting the addition - Re-opening of assessment u/s 147 of the Act on the basis of D.V.O.'s report - Held that:- the Tribunal has rightly placed reliance upon the judgment of the Apex Court in the Case of Assistant Commissioner of Income-tax v. Dhariya Construction Co (2010 (2) TMI 612 - Supreme Court of India). The Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO) - The opinion of the DVO per se is not an information for the purposes of reopening assessment under section 147 of the Income-tax Act, 1961 - The Assessing Officer has to apply his mind to the information, if any, collected and must form a belief thereon - In the circumstances, there is no merit in the civil appeal - The Department was not entitled to reopen the assessment. - Decided against the revenue.
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