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2022 (6) TMI 577 - AT - Income TaxAddition u/s 69B - Undisclosed investment in the construction of the commercial building - reference to DVO - parameters adopted by the DVO in the estimating the cost of construction - HELD THAT:- As valuation has been made by the competent wing of the department who are the engineers capable to estimate the investment made in the building. The said officers have not considered the various contentions raised by the assessee which ought to have been considered looking the analysis of the report. In the first appeal, instead ld. CIT(A) asking for a comment of the Assessing Officer or DVO made his own findings and analysis on the report of the export and sustained an addition. AR objected and submitted that even the ld. CIT(A) not being technical person has erred in sustaining the balance addition and all the contentions raised by the assessee has not been dealt with. Thus, even the action of the ld. CIT(A) is not satisfactory since the contentions raised before the Assessing Officer or the DVO has not been considered even by the CIT(A) fully. The objections of the assessee that the findings of the ld. CIT(A) on the technical issue is also not correct. Therefore, looking to the peculiar facts figures and contentions raised in respect of the DVO’s report. It is in the fair interest of the justice to restored the matter back to the file of the Assessing Officer to give a fair chance to the assessee to raise their contentions in respect of the estimation made by the DVO. The Assessing Officer make this exercise in time bound manner from the DVO and decide this issues in accordance with the law after affording opportunity to the assessee with this direction, the appeal of the assessee is allowed for statistical purposes.
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