2010 (9) TMI 139

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.... (exemption) Accordingly, the application stands disposed of. CM No.16223/2010 This is an application for condonation of delay in refiling the appeal. For the reasons stated in the application, delay in refiling the appeal is condoned. Accordingly, the application stands disposed of. 1. The present appeal has been filed under Section 260A of the Income Tax Act,1961 (hereinafter r....

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....ssee had received consideration more than what was mentioned in the sale deed. In the absence of any such evidence the value of assests transferred cannot be enhanced by making a reference to DVO. Accordingly in our considered opinion ld. CIT(A) has rightly deleted the addition……" 4. We are in agreement with the Tribunal as it is settled law that in the absence of any incriminating evidence....

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....ase, we find that the Tribunal decided the matter rightly in favour of the assessee inasmuch as the Tribunal came to the conclusion that the Assessing Authority (AO) could not have referred the matter to the Departmental Valuation Officer (DVO) without books of accounts being rejected. In the present case, a categorical finding is recorded by the Tribunal that the books were never rejected.  ....