NO ADDITION ON VALUATION REPORT ::

Court :
HC

Brief :
Held by the Hon`ble Court that, the reference can be made to the valuation officer for the purpose of sections 55(A), 131, 133(6), 142(2) and not for the purpose of finding out the cost. Therefore no addition is allowed on account of valuation report.

Citation :
C.I.T. Vs. Star Builders

Section 69A C.I.T. Vs. Star Builders 11/13/2006 [2007] 294 ITR 338 (Guj) Case Fact: Whether, there can be any addition on account of the valuation report of valuation officer? Decision: Held by the Hon`ble Court that, the reference can be made to the valuation officer for the purpose of sections 55(A), 131, 133(6), 142(2) and not for the purpose of finding out the cost. Therefore no addition is allowed on account of valuation report.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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