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TMI Blog2013 (12) TMI 319X X X X Extracts X X X X X X X X Extracts X X X X ..... der in a hurried manner on the same day - This aspect was not examined either by the first Appellate Authority or by the Tribunal - Decided in favour of assessee. - Income Tax Appeal No. - 97 of 2009, Income Tax Appeal No. - 95 of 2009, Income Tax Appeal No. - 98 of 2009 - - - Dated:- 6-12-2013 - Hon'ble Rajiv Sharma And Hon'ble Dr. Satish Chandra,JJ. For the Appellant : R. R. Agrawal, Subh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... market value' of Rs.8000/- per sq. meter as per D.V.O. Report, in contravention of sale consideration of "distressed sale" of Rs.2659.19 per sq. meter since the property was subject to Rent Control Act, at monthly rent of Rs.161.43. B) Whether, the ITAT rightly upheld the order of the assessing authority in not allowing the claim of cost improvement in the land and building at Rs.18,00,000/- esp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 and referred the matter to the D.V.O. to assess the fair market value of the property. After having the report from the D.V.O., he made the addition of Rs.18.00 lakhs , which was confirmed not only by the First Appellate Authority but also by the Tribunal. Not being satisfied, the assessees have filed the present appeals. With this background, heard Sri Subhash Vidyarthi, learned counsel for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... O. has made the assessment on 29.12.2006 itself. From the above, it appears that no proper opportunity was provided to the assessee to raise the objection pertaining to the report submitted by the D.V.O. It is violation of the principle of natural justice. The A.O. without providing proper opportunity of hearing, passed the assessment order in a hurried manner on the same day. This aspect was no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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