https://www.taxtmi.com/caselaws?id=238255 The High Court dismissed all appeals filed by the Revenue, upholding the Tribunal's findings. It concluded that the initiation of proceedings under Section 147/148 solely based on the District Valuation Officer's report was unjustified as there was no material to support it. The Court emphasized that the DVO's report alone cannot serve as a valid basis for reopening assessments. The Court also noted that the retrospective introduction of Section 142-A did not validate the actions of the Assessing Officer in this case. Consequently, all Income Tax Appeals were dismissed in favor of the assessee. en-us Thu, 10 Oct 2013 00:00:00 +0530 Fri, 18 Oct 2013 21:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238255 The High Court dismissed all appeals filed by the Revenue, upholding the Tribunal's findings. It concluded that the initiation of proceedings under Section 147/148 solely based on the District Valuation Officer's report was unjustified as there was no material to support it. The Court emphasized that the DVO's report alone cannot serve as a valid basis for reopening assessments. The Court also noted that the retrospective introduction of Section 142-A did not validate the actions of the Assessing Officer in this case. Consequently, all Income Tax Appeals were dismissed in favor of the assessee. Case-Laws Income Tax Thu, 10 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238255