https://www.taxtmi.com/caselaws?id=181097 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeals for all assessment years involved. It emphasized that the AO should have verified the books and vouchers maintained by the assessee and pointed out specific defects before relying solely on the DVO's report. The Tribunal cited judicial precedents highlighting that valuation reports are only relevant when books of account are unreliable. Consequently, no addition was deemed warranted based on the DVO's report, leading to the dismissal of the Revenue's appeals. en-us Wed, 14 Jul 2010 00:00:00 +0530 Thu, 07 Apr 2016 11:54:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181097 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeals for all assessment years involved. It emphasized that the AO should have verified the books and vouchers maintained by the assessee and pointed out specific defects before relying solely on the DVO's report. The Tribunal cited judicial precedents highlighting that valuation reports are only relevant when books of account are unreliable. Consequently, no addition was deemed warranted based on the DVO's report, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Wed, 14 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181097