2024 (5) TMI 107

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... from the order of the Income Tax Appellate Tribunal, Allahabad Bench, Allahabad dated 10.11.2005 passed in I.T.A No.261- Alld/2003 and Cross Objection No.29/Alld/2004 (pressed by the present appellant) for the assessment year 1997-98. 3. Originally the present appeal was admitted on the following questions of below:- "(1) Whether reference to the valuation officer could have been made by the assessing authority for the purpose of determining the input cost on the suspicion that the input cost declared by the assessee was understated and, if so, under which provision of the Income Tax Act. (2) If such reference was not permissible, whether the addition to the income of the petitioner could have been based on the report ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Educational Society (2011) 339 ITR 588 (All). Further, reliance has been placed on similar orders passed by different co-ordinate benches dealing with the issue whether reference to a District Valuation Officer (DVO in short), may arise without first rejecting the books of accounts of the assessee. That issue has been squarely answered in favour of the assessee. Thus, it has been consistently held that no reference to DVO may ever arise without first rejecting the books of accounts wherein investments made in the immovable property may have been recorded. That sound principle in law admits of no doubt or other opinion. 6. At the same time learned counsel for the revenue would submit, at the relevant time i.e. when the Tribunal dealt with....