https://www.taxtmi.com/caselaws?id=178805 The case involved interpreting Section 260-A of the Income Tax Act, 1961, and the validity of a decision based on a cross-objection filed by the assessee. The court upheld the Tribunal's decision to prioritize the cross-objection over the departmental appeal, emphasizing the importance of rejecting accounts before referring the matter to the DVO. The court also clarified that the difference up to 10% between the valuation shown by the assessee and the DVO's valuation is not mandated by the Act and Rules. The decision highlighted the significance of following established principles in tax appeals, as exemplified by the case of Sergam Cinema v. Commissioner of Income-Tax. en-us Thu, 27 Sep 2012 00:00:00 +0530 Fri, 12 Feb 2016 18:53:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178805 The case involved interpreting Section 260-A of the Income Tax Act, 1961, and the validity of a decision based on a cross-objection filed by the assessee. The court upheld the Tribunal's decision to prioritize the cross-objection over the departmental appeal, emphasizing the importance of rejecting accounts before referring the matter to the DVO. The court also clarified that the difference up to 10% between the valuation shown by the assessee and the DVO's valuation is not mandated by the Act and Rules. The decision highlighted the significance of following established principles in tax appeals, as exemplified by the case of Sergam Cinema v. Commissioner of Income-Tax. Case-Laws Income Tax Thu, 27 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178805