9911796707
TMI Blog2010 (8) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... been filed under Section 260A of Income Tax Act, 1961 (for brevity "Act, 1961") challenging the order dated 31st March, 2009 passed by the Income Tax Appellate Tribunal (in short "Tribunal") in IT(SSA) No. 262/Del/2004, for the block period 1st April, 1989 to 17th December, 1999. 2. The relevant facts of the present case are that a search was conducted at the respondent-assessee's residenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de in the absence of any evidence found in the course of search because undisclosed income in the block assessment is to be computed on the basis of material found in the search proceedings and the valuation report was admittedly not during the course of the search and was obtained as by the department subsequent thereto. No records thereon can be made on the same for treating the difference as in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecided by this Court on 5th May, 2010). 7. In any event, the opinion of the DVO, per se, is not an information and cannot be relied upon without the books of account being rejected-which has not been done in the present case. The Supreme Court in its order dated 19th October, 2009 in Civil Appeal No. 6973/2009 has held as under:- "Delay condoned. Leave granted. In t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Supreme Court in its order dated 16th February, 2010 in Civil Appeal No. 9468/2003 has held as under:- "Having examined the record, we find that in this case, the Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO). Opinion of the DVO per se is not an information for the purposes of reopening assessment under Section 147 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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