https://www.taxtmi.com/caselaws?id=282079 ITAT JAIPUR (AT) held that revision under section 263 was not justified. The AO had conducted a detailed enquiry and accepted the cost of construction and fixed assets supported by records and a valuation report; reference to the DVO is not mandatory once the AO is satisfied. The Pr. CIT merely set aside the AO's order for referral without reaching a contrary conclusion, so the AO's order could not be deemed erroneous or prejudicial. Decision in favour of the assessee. en-us Thu, 20 Dec 2018 00:00:00 +0530 Sat, 04 Oct 2025 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282079 ITAT JAIPUR (AT) held that revision under section 263 was not justified. The AO had conducted a detailed enquiry and accepted the cost of construction and fixed assets supported by records and a valuation report; reference to the DVO is not mandatory once the AO is satisfied. The Pr. CIT merely set aside the AO's order for referral without reaching a contrary conclusion, so the AO's order could not be deemed erroneous or prejudicial. Decision in favour of the assessee. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282079