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TMI Blog2015 (12) TMI 1454X X X X Extracts X X X X X X X X Extracts X X X X ..... - ITA No.537, 538/LKW/2013 - - - Dated:- 27-8-2015 - SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI. A. K. GARODIA, ACCOUNTANT MEMBER For The Appellant : Shri. A. K. Singh, CIT (DR) For The Respondent : Shri. Pradeep Kapoor, C.A. ORDER PER SUNIL KUMAR YADAV: These appeals are preferred by the Revenue against the respective orders of the ld. CIT(A) on common grounds except the difference in quantum of additions. For the sake of reference, we extract the grounds raised in I.T.A. No. 537/LKW/2013 as under:- 1. That the Ld. CIT(A) has erred in law and on facts in deleting the addition of ₹ 39,65,300/- u/s 69B of the Act on account of unexplained investment in the property owned by the Assessee at 120/865 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompilation of the assessee. In response to this questionnaire, the assessee has filed a reply dated 5.10.2007 stating therein that the books of account and vouchers are produced for verification. Thereafter the assessee has received another notice from the Assessing Officer along with questionnaire dated 21.11.2007 fixing the date for 27.11.2007 through which the assessee was again asked to produce the books of account, bills and vouchers for examination. But without waiting for the reply, the Assessing Officer has made a reference to the DVO on 25.10.2007. Copy of the DVO s report is placed on record in which a reference of the ACIT s letter is mentioned. The ld. counsel for the assessee has further invited our attention to the order passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ference without rejecting the books of account of the assessee does not invalidate the valuation report. 5. The ld. counsel for the assessee, in rejoinder, has contended that the judgment of the Hon'ble Andhra Pradesh High Court in the case of Bharat Cement Corporation Pvt. Ltd. vs. CIT Others (supra) was considered by the Hon'ble Punjab Haryana High Court in the case of CIT vs. Rajesh Mahajan (supra) and by the Hon'ble Gujarat High Court in the case of CIT vs. Vijaykumar D Gupta in Tax Appeal No.293 of 2014 with Tax Appeal No.294 of 2014 dated 15.4.2014. In this judgment, the Hon'ble Gujarat High Court has taken into account the judgment of Hon'ble Andhra Pradesh High Court in the case of Bharat Cement Corporatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for hearing, but before that date hearing the Assessing Officer has made a reference to the DVO for valuation of the cost of construction of the immovable property, meaning thereby that the reference to the DVO was made without rejecting the books of account of the assessee. 7. Undisputedly, the Hon'ble Apex Court in the case of Sargam Cinema vs. CIT (supra) has held that without rejecting the books of account, reference to the DVO is not valid and this judgment of the Hon'ble Apex Court was followed by the subordinate Courts throughout the country. Even the Hon'ble Allahabad High Court in the case of CIT vs. Lucknow Public Educational Society (supra) has categorically held that reference to the Valuation Officer under sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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