2013 (4) TMI 193

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..... lf of the assessee-respondent. The above appeal has been admitted on the following substantial questions of law :- "1. Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in deleting the addition of Rs.22,54,466 made by the A.O. in reassessment proceedings on account of unexplained investment in the construction of house after the assessee had failed to ex .....

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..... the same being distinguishable on facts?" The background facts may be noticed in brief: The income-tax returns for the assessment years 1998-99 to 2001-02 of the assessee-respondent were processed under Section 143(1) of the Income Tax Act. Later on, the department called for a report from the District Valuation Officer with regard to the amount invested by the assessee in the construction of i .....

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..... relevant paragraph is reproduced below: "Having examined the record, we find that in this case, the Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO). 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 t .....

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