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1 - 8 of 8 (1.06 seconds)Section 50C in The Income Tax Act, 1961 [Entire Act]
Section 55A in The Income Tax Act, 1961 [Entire Act]
Section 35 in The Wealth-Tax Act, 1957 [Entire Act]
Cit vs M/S Special Prints Ltd on 21 July, 2014
In this regard, I find that the issue is
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ITA No.587/PUN/2014
Smt. Ratnakanta B. Agrawal
squarely covered in favour of assessee by the order of the Hon'ble Bombay
High Court in CIT Vs. Puja Prints (supra), wherein the Hon'ble High Court held
as under:-
Section 2 in The Wealth-Tax Act, 1957 [Entire Act]
Dy. Cit vs Vijay Mehta (Huf) on 29 August, 2002
11. The Hon'ble Bombay High Court in the case of CIT Vs. Daulal Mohta
(HUF) reported in 360 ITR 680 has held that reference to DVO can only be
made in a case where value of asset shown by the assessee is less than its fair
market value of the land.
Aarti Projects And Constructions , ... vs Dcit 5(1), Mumbai on 5 January, 2017
17. I find support from the proposition laid down by the Pune Bench of
Tribunal in Rahul Constructions Vs. DCIT (2010) 38 DTR 19 in respect of
exercise of power by the superior authority and in the absence of any mistake
apparent on record, the so-called rectification of value carried out by the DVO is
not valid as was held by the Jabalpur Bench of Tribunal in WTO Vs. Ajit singh
Malhotra (supra).
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