https://www.taxtmi.com/caselaws?id=361856 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,17,00,260 to the total income, ruling that the Assessing Officer could not refer the matter to the Department Valuation Officer without rejecting the books of accounts. The Tribunal emphasized that the addition based on the DVO report without rejecting the books of accounts was not valid, citing legal precedents and the Supreme Court's ruling in Sargam Cinema case. Consequently, the Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition. en-us Mon, 04 Jun 2018 00:00:00 +0530 Thu, 14 Jun 2018 19:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361856 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,17,00,260 to the total income, ruling that the Assessing Officer could not refer the matter to the Department Valuation Officer without rejecting the books of accounts. The Tribunal emphasized that the addition based on the DVO report without rejecting the books of accounts was not valid, citing legal precedents and the Supreme Court's ruling in Sargam Cinema case. Consequently, the Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition. Case-Laws Income Tax Mon, 04 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361856