TMI Blog2003 (4) TMI 227X X X X Extracts X X X X X X X X Extracts X X X X ..... passed by the learned CIT(A). 2. The common ground raised by the Revenue in all the appeals is that the learned CIT(A) was not justified in quashing the reassessment proceeding in view of the amended provision of s. 147 of the Act. 3. While framing assessment for the asst. yr. 1994-95, it was noticed by the AO that the assessee had invested towards construction of the house of Rs. 2,96,405 in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Departmental Representative supported the assessment orders and submitted that reopening on the basis of the report of the DVO was proper. He placed reliance on the decisions CIT vs. Dalmia Cement (Bharat) Ltd. (2002) 174 CTR (Del) 188 : (2002) 254 ITR 377 (Del) and K.G. Kemptur Anr. vs. WTO (1984) 39 CTR (Kar) 1 : (1984) 146 ITR 611 (Kar). On the other hand, the learned counsel appearing on b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso the decision of the jurisdictional High Court in Smt. Uma Devi Jhawar vs. ITO (1996) 218 ITR 573 (Cal). We find that the assessments were reopened for the 3 years only on the basis of the valuation report of the DVO. The income and expenditure shown by the assessee in her books of account was accepted by the AO. The books of account were not rejected under s. 145 of the Act. In similar circums ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f this case. The decision in the case of K.G. Kemptur vs. WTO also does not relate to the issue in hand. It has been held by different High Courts including the jurisdictional High Court that the report of the DVO is merely an opinion and there is every chance that the findings of two opinions may differ from each other. Therefore, on the basis of opinion alone, assessment framed after proper veri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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