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2009 (7) TMI 709 - ALLAHABAD HIGH COURTReassessment- Whether on the facts and in the circumstances of the case, the hon’ble Income-tax Appellate Tribunal was justified in upholding the order of the Commissioner of Income-tax (Appeals) deleting the addition made by the Assessing Officer on account of difference between the cost of construction, estimated by the valuation officer and that disclosed by the assessee being unexplained investment under section 69 of the Income-tax Act, by placing reliance on the judgment in the case of Smt. Amiya Bala Paul v. CIT 2008 -TMI - 6124 - SUPREME Court without taking into consideration the amended provisions of section 142A(1) of the Income-tax Act, introduced with retrospective effect ? Held that- the original assessment order was passed on March 21, 2002 and had become final between the parties on the date when section 142A was inserted by Finance Act, 2004. The Tribunal was justified in deleting the addition made by the Assessing Officer on account of difference between the cost of construction estimated by the valuation Officer and that disclosed by the assessee.
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