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.
CA.Saibaburao Nanduri
Published in Income Tax
Views : 58
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