TaxTMI 
TaxTMI 
2010 (8) TMI 64
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....en filed under Section 260A of Income Tax Act, 1961 (for brevity "Act, 1961") challenging the order dated 25th June, 2009 passed by the Income Tax Appellate Tribunal (in short "Tribunal") in ITA Nos. 1785/Del/2008 and 1042/Del/2008, for the Assessment Year 2004-2005. 2. It is pertinent to mention that by the impugned order, the appeal of the assessee was allowed whereas cross-appeal of the....
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....sis of the valuation report submitted by the District Valuation Officer (in short "DVO"), the Assessing Officer made an addition of Rs. 19,48,200/- in respondent-assessee's income. Upon an appeal being filed by the respondent-assessee, the Commissioner of Income Tax (Appeals) reduced the addition of Rs. 7,34,460/-. 6. Upon appeals being filed by the respondent-assessee as well as by the re....
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....at area was not as well developed as the comparable instances taken by the Valuation Officer for the property situated in Janak Puri and Vikas Puri, New Delhi. There was also disadvantage in respect of noise and disturbances which the Valuation Officer himself has noted that the properties are situated near the airport and railway track……" 7. Ms. Sonia Mathur, learned counsel for the r....
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....5th May, 2010). 9. Further the Supreme Court in its order dated 16th February, 2010 in Civil Appeal No. 9468/2003 has held as under:- "Having examined the record, we find that in this case, the Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO). Opinion of the DVO per se is not an information for the purposes of reopenin....