2012 (2) TMI 574

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....e Assessee : K. C. Agarwal, Advocate ORDER Bhavnesh Saini (Judicial Member) The departmental appeal and the cross-objection by the assessee are directed against the order of ld. CIT(A), Gwalior dated 17.09.2010 for the assessment year 2006-07. 2. The Revenue filed the appeal on the following grounds : "Whether on the facts and in the circumstances of the case the Ld. CIT(Appea....

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....he assessee claimed deduction u/s. 80IB(10) of the Income-tax Act. Reference was made to the Valuation Officer for verifying the correctness of the cost of investment in construction. The Assessing Officer made addition of Rs. 24,12,812/- on account of difference in the cost of construction reported by the assessee as well as Departmental Valuation Officer. The addition was challenged before the l....

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....outine manner. Reference can be made if the Assessing Officer is not satisfied with the correctness of the account books of the assessee. However, in this case, the accounts of the assessee have not been rejected which have been maintained in regular course. The ld. CIT(A) relied upon the decision of Madras High Court in the case of K.K. Seshaiyer vs. CIT 246 ITR 351. The ld. CIT(A) also noted tha....

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.... the case of Sargam Cinema vs. CIT, 197 Taxman 203 (328 ITR 513), in which the books of account of the assessee were not rejected and the Assessing Officer referred the matter to the DVO. It was, therefore, held that no reference could be made to DVO. 7. On consideration of the above facts, we do not find any merit in the appeal of the Revenue. The ld. CIT(A) has given specific finding that the....