DVO Report based on mere estimate not sufficient information for the purpose of reopening assessment u/s 147. ITAT deleted addition u/s 69 ABCAUS Case Law Citation:ABCAUS 2675 (2018) (12) ITAT Important Case Laws Cited/relied upon:ACIT vs. Dhariya Construction Co. (2010) 328 ITR 515 (SC) ITO vs. Santosh Kumar …
No Addition for upto 10 percent difference in DVOs report and the amount of investment shown by the assessee which is liable to be ignored – ITAT ABCAUS Case Law Citation: ABCAUS 1277 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by …
Land within municipal limits can not be treated agricultural based on revenue record. Revision u/s 263 upheld for assessment based on wrong DVO report – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1195 (2017) (04) HC Assessment Year : 2004-05 Date/Month of Pronouncement: March, 2017 Brief Facts …
No Penalty us 2711c for additions made on DVO report basis as the DVO report is just an opinion or estimate. The mere fact that the assessee had not agitated additions made in the appellate proceedings does not militate against the assessee in the penalty proceedings. This was …