https://www.taxtmi.com/caselaws?id=333387 The court dismissed the petition, allowing the Assessing Officer (AO) to proceed with the assessment. It held that the AO's reference to the District Valuation Officer (DVO) was within his powers under Section 142A, despite initial citation errors. The court found the AO's actions justified due to significant discrepancies in declared sale prices versus market rates and suspicions of profit-making intent by the petitioner. The petitioner was advised to appeal the final assessment if dissatisfied. en-us Tue, 04 Oct 2016 00:00:00 +0530 Wed, 15 Mar 2017 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333387 The court dismissed the petition, allowing the Assessing Officer (AO) to proceed with the assessment. It held that the AO's reference to the District Valuation Officer (DVO) was within his powers under Section 142A, despite initial citation errors. The court found the AO's actions justified due to significant discrepancies in declared sale prices versus market rates and suspicions of profit-making intent by the petitioner. The petitioner was advised to appeal the final assessment if dissatisfied. Case-Laws Income Tax Tue, 04 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333387