https://www.taxtmi.com/caselaws?id=254996 The High Court upheld the Tribunal's decision in tax appeals, emphasizing that the Assessing Officer must reject the books of accounts before referring to the Valuation Officer for determining construction costs. The Court ruled in favor of the assessee, dismissing the appeals and emphasizing the importance of corroborating additions with evidence. The decision highlighted the invalidity of the Valuation Officer reference without rejected books of accounts, in line with legal precedents. The Court's judgment focused on interpreting Section 69C and related provisions, ultimately supporting the Tribunal's decision based on legal principles. en-us Fri, 19 Dec 2014 00:00:00 +0530 Tue, 06 Jan 2015 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254996 The High Court upheld the Tribunal's decision in tax appeals, emphasizing that the Assessing Officer must reject the books of accounts before referring to the Valuation Officer for determining construction costs. The Court ruled in favor of the assessee, dismissing the appeals and emphasizing the importance of corroborating additions with evidence. The decision highlighted the invalidity of the Valuation Officer reference without rejected books of accounts, in line with legal precedents. The Court's judgment focused on interpreting Section 69C and related provisions, ultimately supporting the Tribunal's decision based on legal principles. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254996