https://www.taxtmi.com/caselaws?id=9382 The High Court upheld the Tribunal's decision to delete the addition in the case concerning the valuation of a factory building for the assessment year 1983-84. The dispute arose from the variance between the property valuation by the Departmental Valuation Officer and the cost declared by the assessee. The Tribunal ruled in favor of the assessee, emphasizing the invalidity of the valuation officer's report and the importance of maintaining proper books of account. The Court highlighted the significance of accurate financial records and supported the deletion of the addition on the grounds of unexplained investment. en-us Mon, 31 Jan 2005 00:00:00 +0530 Mon, 22 Jun 2009 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9382 The High Court upheld the Tribunal's decision to delete the addition in the case concerning the valuation of a factory building for the assessment year 1983-84. The dispute arose from the variance between the property valuation by the Departmental Valuation Officer and the cost declared by the assessee. The Tribunal ruled in favor of the assessee, emphasizing the invalidity of the valuation officer's report and the importance of maintaining proper books of account. The Court highlighted the significance of accurate financial records and supported the deletion of the addition on the grounds of unexplained investment. Case-Laws Income Tax Mon, 31 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9382