https://www.taxtmi.com/caselaws?id=788059 A valuation report submitted after the six month period prescribed by Section 142A(6) falls outside the statutory timeline and cannot trigger the Explanation to Section 153 or the proviso that affords an Assessing Officer an extended sixty day limitation; consequently a belated DVO report has no legal value to extend limitation. The tribunal applied these statutory provisions, disallowed reliance on the late report, and held that revisionary action by the Principal Commissioner was not justified; the High Court affirmed, dismissing Revenue's challenge and sustaining the result in favour of the assessee. en-us Tue, 27 Jan 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788059 A valuation report submitted after the six month period prescribed by Section 142A(6) falls outside the statutory timeline and cannot trigger the Explanation to Section 153 or the proviso that affords an Assessing Officer an extended sixty day limitation; consequently a belated DVO report has no legal value to extend limitation. The tribunal applied these statutory provisions, disallowed reliance on the late report, and held that revisionary action by the Principal Commissioner was not justified; the High Court affirmed, dismissing Revenue's challenge and sustaining the result in favour of the assessee. Case-Laws Income Tax Tue, 27 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788059