TaxTMI 
TaxTMI 
2014 (4) TMI 1241
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....al has been preferred by the assessee against order dated 30.03.2012 of CIT(A)-II, Ludhiana relevant to assessment year 2003-04 2. The assessee has taken the following grounds of appeal:- 1. "That the Worthy Commissioner of Income Tax (Appeals) has erred in upholding that the Assessing Officer was justified in invoking the provisions of section 148. 2. That the Worthy CIT(A) has also erred in....
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....ing. 4. That the CIT(A) has also erred in holding that there was pendency of proceedings when the reference to the DVO was made, which is also not a correct finding and the binding judgment of Hon'ble Supreme Court has been totally ignored that no case could be reopened on the basis of DVO's report as held by the Supreme Court in the case of ACIT vs Dhariya Construction Company as reported in 23....
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....person, at all." 3. A perusal of the above grounds taken by the assessee reveals that the only effective issue which emerges of the above grounds is regarding reopening of the assessment u/s 147 of the Income Tax Act by the Assessing Officer on the basis of report of the Department Valuation Officer (DVO) 4. The brief facts of the case are that the assessee in its return of income disclos....
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....rd the Ld. Representatives of both the sides and have also gone through the records. From the perusal of the record, it reveals that the Assessing Officer had not any other information or reason to believe that the income disclosed by the assessee had escaped assessment except the report of the DVO. The reopening was made merely on the basis of estimation of investment made by the DVO. The Hon'....