https://www.taxtmi.com/caselaws?id=240654 The High Court set aside the Tribunal's judgment in an appeal under Section 260-A of the Income Tax Act for assessment years 2004-05. The Court found that the assessing authority violated natural justice by not allowing the assessee a fair opportunity to challenge the D.V.O.'s report on fair market value. The matter was remanded for a fresh decision, emphasizing the importance of a reasonable hearing for the assessee. The Court directed the Tribunal to expedite the decision within three months. All appeals by the assessee were allowed for statistical purposes, highlighting successful challenges based on procedural irregularities and violation of natural justice. en-us Fri, 06 Dec 2013 00:00:00 +0530 Mon, 09 Dec 2013 06:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240654 The High Court set aside the Tribunal's judgment in an appeal under Section 260-A of the Income Tax Act for assessment years 2004-05. The Court found that the assessing authority violated natural justice by not allowing the assessee a fair opportunity to challenge the D.V.O.'s report on fair market value. The matter was remanded for a fresh decision, emphasizing the importance of a reasonable hearing for the assessee. The Court directed the Tribunal to expedite the decision within three months. All appeals by the assessee were allowed for statistical purposes, highlighting successful challenges based on procedural irregularities and violation of natural justice. Case-Laws Income Tax Fri, 06 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240654