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January 2011

Assessment — Reference to Departmental Valuer

By Kishor Karia | Chartered Accountant
Atul Jasani | Advocate
Reading Time 1 mins

New Page 2

14. Assessment — Reference
to Departmental Valuer.


[Sargam Cinema v. CIT,
(2010) 328 ITR 513 (SC)]

The Supreme Court observed
that the Tribunal was right in coming to the conclusion that the assessing
authority could not have referred the matters to the Departmental Valuation
Officer (DVO) without the books of account being rejected. In the circumstances,
reliance could not have been placed on the report of the DVO. The Supreme Court
set aside the order of the High Court as that aspect had not been considered by
it and restored the order of the Tribunal.

 

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