2004 (8) TMI 22

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..... report of the Departmental Valuation Officer for the purposes of determining the cost of construction. Thus, the report of the Departmental Valuation Officer was clearly invalid. If the said report is excluded from consideration, there is no material whatsoever warranting satisfaction on the part of the Assessing Officer about the escapement of income. Thus, the impugned notices cannot be sustain .....

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..... the Tribunal placed reliance on the decision of this court in CIT v. Smt. Usha Mathur [2001] 252 ITR 179 and various other decisions of different Benches of the Tribunal taking the same view. We have heard counsel for the parties and have perused the orders on record. Counsel for the Revenue has not been able to controvert the factual position that the proceedings under section 147 of the Act .....

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..... he report of the Departmental Valuation Officer for the purposes of determining the cost of construction. Thus, the report of the Departmental Valuation Officer was clearly invalid. If the said report is excluded from consideration, there is no material whatsoever warranting satisfaction on the part of the Assessing Officer about the escapement of income. Thus, the impugned notices cannot be susta .....

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