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2023 (3) TMI 1162 - HC - Income TaxUnexplained investment u/s 69 - Reliance on District Valuation Officer’s valuation report - whether the addition made by AO in all the assessment years based on the initial valuation report submitted by the Valuation Officer pursuant to a reference made by the DDIT(Investigation), was within jurisdiction? - HELD THAT:- Tribunal, in our view, rightly took note of the decision of the Hon’ble Supreme Court in Smt. Amiya Bala Paul [2003 (7) TMI 4 - SUPREME COURT] and held that the DDIT did not have the power to make the reference to the DVO, which power he acquired only on 1st April, 2017 by virtue of the Finance Act, 2017 u/s 132(9B) - Tribunal noted that neither the DVO filed the valuation report pursuant to the AO ’s reference dated 22nd January, 2016 nor the DVO filed the valuation report pursuant to the reference by the CIT(A) through the AO by letter dated 29th January, 2019. Thus, the learned Tribunal noted that the addition has been made only on the basis of the initial valuation report dated 18th November, 2014, which was pursuant to the DDIT’s reference and on the said date he had no power to call for such report.Tribunal is fully justified and the order does not call for any interference - Decided against revenue.
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