https://www.taxtmi.com/caselaws?id=787418 The article clarifies that a mandatory six month service obligation for valuation reports means belated DVO reports cannot be used to the detriment of the taxpayer; such reports become functus officio and valuations founded on them are invalid for assessment. It further states that for completed or unabated years additions after search require incriminating material specific to that year showing escaped income represented as an asset; absent such material, jurisdiction under the proviso is vitiated. Reliance on retracted statements without confrontation or independent corroboration is unreliable, and the tripartite test for credit entries must be satisfied by revenue to sustain additions. en-us Tue, 03 Feb 2026 00:00:00 +0530 Thu, 05 Mar 2026 08:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787418 The article clarifies that a mandatory six month service obligation for valuation reports means belated DVO reports cannot be used to the detriment of the taxpayer; such reports become functus officio and valuations founded on them are invalid for assessment. It further states that for completed or unabated years additions after search require incriminating material specific to that year showing escaped income represented as an asset; absent such material, jurisdiction under the proviso is vitiated. Reliance on retracted statements without confrontation or independent corroboration is unreliable, and the tripartite test for credit entries must be satisfied by revenue to sustain additions. Case-Laws Income Tax Tue, 03 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787418