https://www.taxtmi.com/caselaws?id=220459 The High Court dismissed both appeals, upholding the Tribunal's decision that reassessment proceedings solely based on the District Valuation Officer's report were not valid. The judgment emphasized the necessity of corroborative evidence and the rejection of books of account before relying on external valuation reports for reassessment under the Income Tax Act. en-us Thu, 11 Oct 2012 00:00:00 +0530 Fri, 25 Jan 2013 06:27:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220459 The High Court dismissed both appeals, upholding the Tribunal's decision that reassessment proceedings solely based on the District Valuation Officer's report were not valid. The judgment emphasized the necessity of corroborative evidence and the rejection of books of account before relying on external valuation reports for reassessment under the Income Tax Act. Case-Laws Income Tax Thu, 11 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220459