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Principal Commissioner of Income Tax, Faridabad Versus Sh. Avtar Kukreja

2015 (9) TMI 1051 - PUNJAB AND HARYANA HIGH COURT

Addition on valuation of immovable properties - ITAT deleted the addition - Held that:- It is not disputed that for the assessment years 2004-05 and 2006-07 arising from the same order raising similar issue have already been dismissed by this Court v .....

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O&M), ITA No. 164 of 2015 (O&M) - Dated:- 26-8-2015 - MR. AJAY KUMAR MITTAL AND MR. RAMENDRA JAIN, JJ. For The Appellant : Mr. Tajender K. Joshi, Advocate AJAY KUMAR MITTAL, J. 1. This order shall dispose of ITA Nos. 163, 164 and 199 of 2015 as accor .....

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260A of the Income Tax Act, 1961 (in short the Act ) against the order dated 30.11.2010 (Annexure A-III) passed by the Income Tax Appellate Tribunal, Delhi Bench A , New Delhi (hereinafter referred to as the Tribunal ) in ITA No. 775/DEL/2010 for the .....

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valuation of immovable properties, since the reference to registered valuer was made only when the details and value of properties owned by the assessee were not verifiable and the assessee had failed to file his return of income for 16 months, from .....

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ation made by the registered valuer who are the competent authorities for such purpose and who had made valuation of properties on the basis of approved rates of competent authorities. 3. On the facts and circumstances of the case and in law whether .....

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e submitted by the assessee at the time of said valuation of immovable properties. 3. The facts, in brief, necessary for adjudication as pleaded in the appeal are that the search and seizure operations were carried out at the premises of the assessee .....

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ies shown in the return of Smt. Meena belonged to the assessee. The Assessing Officer finding that the properties have been acquired at a lesser figure by the assessee, referred the same for valuation to the Valuation Officer. The Assessing Officer i .....

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, the assessee filed an appeal before the Commissioner of Income Tax (Appeals) [for brevity the CIT(A) ]. The CIT(A) vide common order dated 21.12.2009 (Annexure A-II) dismissed the appeals for the assessment years 2001-02 to 2006-07 and partly allow .....

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