2009 (10) TMI 569 - SCH - Income Tax

Matter could not refer to the Departmental Valuation Officer without the books of account being rejected.

Summary

The Supreme Court of India allowed a civil appeal, setting aside the High Court's judgment and restoring the Tribunal's order in favor of the assessee. The Tribunal found that the assessing authority wrongly referred the matter to the Departmental Valuation Officer without rejecting the books of account, leading to a misconceived reliance on the DVO's report.