2017 (1) TMI 628

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..... r [2012 (10) TMI 619 - ALLAHABAD HIGH COURT ] the reference to DVO under Section 142-A is not to make a fishing and roving enquiry into the expenditure in constructions. The AO is not authorised to call for the report of DVO unless he forms an opinion that he cannot rely on the assessee's accounts and rejects the accounts books. The incomplete report of the DVO on the basis of which the assessm .....

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..... l, Delhi Bench 'D', New Delhi (hereinafter referred to as the Tribunal ) in Income Tax Appeal Nos.426 427/Del/2004(Assessment Year 1995-96 1996-97). 2. The appeal was admitted on following substantial questions of law: 1. Whether on the facts and in the circumstances of the case, the Tribunal is justified in holding that notice u/s 148 is invalid by not giving cognizance to th .....

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..... nts books, which were accepted and the assessments were finalised and thus the same material, namely the payment of upfront fees and the receipt of the share application money, could not be a ground reopen the assessment. We also find that the AO did not call the assessee-company to explain the difference of ₹ 3,75,500/- as up-front fees to IDBI for sanction of loan of ₹ 8.5 crores; th .....

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