https://www.taxtmi.com/caselaws?id=255035 The Court upheld the Income Tax Appellate Tribunal's decision to delete the addition to the assessee's income based on a cost of construction discrepancy. It found that the Assessing Officer had not rejected the books of accounts before referring to the Valuation Officer, rendering the addition invalid. The Court emphasized the importance of following proper procedures and evidentiary requirements in such cases, ruling in favor of the assessee and dismissing all appeals by the department. en-us Thu, 11 Dec 2014 00:00:00 +0530 Tue, 06 Jan 2015 10:29:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255035 The Court upheld the Income Tax Appellate Tribunal's decision to delete the addition to the assessee's income based on a cost of construction discrepancy. It found that the Assessing Officer had not rejected the books of accounts before referring to the Valuation Officer, rendering the addition invalid. The Court emphasized the importance of following proper procedures and evidentiary requirements in such cases, ruling in favor of the assessee and dismissing all appeals by the department. Case-Laws Income Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255035