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2016 (2) TMI 295 - AT - Income TaxReopening of assessment - basis of the valuation report received from the office of the DVO - Held that:- As decided in ACIT Vs Dhariya Construction Company [2010 (2) TMI 612 - Supreme Court of India ] 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 in favour of assessee
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