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2010 (2) TMI 612 - SCH - Income Tax
Reopening of the assessment - based on the opinion given by the District Valuation Officer - opinion of the DVO per se is not an information for the purposes of reopening assessment under section 147 of the Income-tax Act,1961 Held that - Department was not entitled to reopen the assessment.
The Supreme Court of India in 2010 (2) TMI 612 - SC ruled that the opinion of the District Valuation Officer alone is not sufficient information to reopen an assessment under section 147 of the Income-tax Act, 1961. The Assessing Officer must apply his mind to the information collected and form a belief. The Department was not entitled to reopen the assessment. The civil appeal was dismissed with no order as to costs.
9911796707
