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2013 (11) TMI 1373 - HC - Income TaxValidity of reassessment u/s 147 - On the basis of DVO's report - Held that:- The reasons recorded by the AO for reopening of assessment only refer to the valuation report and not application of mind or belief formed by the Assessing Officer - Following ACIT versus Dhariya Construction Company [2010 (2) TMI 612 - Supreme Court of India] - Decided against Revenue. Excess exemption u/s 54F - Held that:- The Tribunal when observed this excess allowance issued notice u/s 154 - The assessee had admitted the said mistake and had deposited Rs.21,520/- towards excessive allowance or exemption under Section 54F - Reasons recorded do not state or record that notice under Section 154 of the Act stands withdrawn - Decided against Revenue.
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