https://www.taxtmi.com/caselaws?id=68811 The Tribunal held that the reassessment order based on the valuation report from the District Valuation Officer was valid under Section 147 as sufficient reason existed to believe income had escaped assessment. The decision in Girdhar Gopal Gulati was deemed inapplicable as the assessing officer had not conducted any inquiry into the cost of construction during the original assessment. The reopening of the case was not considered a change of opinion as the AO had not consciously applied his mind to the issue. The reference to the Valuation Officer was deemed valid under Section 142A, and the appeal by the Revenue was allowed for statistical purposes, with the matter remanded for fresh examination. en-us Thu, 21 Feb 2008 00:00:00 +0530 Fri, 01 Apr 2011 17:54:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68811 The Tribunal held that the reassessment order based on the valuation report from the District Valuation Officer was valid under Section 147 as sufficient reason existed to believe income had escaped assessment. The decision in Girdhar Gopal Gulati was deemed inapplicable as the assessing officer had not conducted any inquiry into the cost of construction during the original assessment. The reopening of the case was not considered a change of opinion as the AO had not consciously applied his mind to the issue. The reference to the Valuation Officer was deemed valid under Section 142A, and the appeal by the Revenue was allowed for statistical purposes, with the matter remanded for fresh examination. Case-Laws Income Tax Thu, 21 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68811