2008 (9) TMI 890

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.... the respondent. In the above appeal two questions are sought to be raised. "(A) Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was right in law in reversing the decision of the Commissioner of Income-tax (Appeals) on valuation of Laxmi Niwas property at Rs. 1,35,40,000 made by the DVO as against the valuation done by the Government ....

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....sideration is whether the reference made by the Assessing Officer to the DVO under section 55A is bad in law under the facts and circumstances of the case. This issue, in our considered opinion, is covered in favour of the assessee and against the Revenue by the judgment in the case of Ms. Rubab M. Kazerani v. Joint CIT reported in [2004] 91 ITD 429 (Mum) (TM). Further, the assessee also covered b....