https://www.taxtmi.com/caselaws?id=308171 The ITAT allowed the assessee's appeals, setting aside the additions made by the Assessing Officer based on the DVO's report for discrepancies in property valuation. The ITAT emphasized the importance of maintaining regular books of account and the necessity of rejecting books before making additions solely based on external valuation reports, in line with the Supreme Court's precedent in the Sargam Cinema case. en-us Tue, 15 Mar 2022 00:00:00 +0530 Mon, 05 Jun 2023 21:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308171 The ITAT allowed the assessee's appeals, setting aside the additions made by the Assessing Officer based on the DVO's report for discrepancies in property valuation. The ITAT emphasized the importance of maintaining regular books of account and the necessity of rejecting books before making additions solely based on external valuation reports, in line with the Supreme Court's precedent in the Sargam Cinema case. Case-Laws Income Tax Tue, 15 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308171