Income Tax Act, 1961

Income Tax Rules, 1962

Courts say.....

"Having examined the record, we find that in this case, the Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO). The opinion of the DVO per se is not an information for the purposes of reopening assessment under section 147 of the Income-tax Act, 1961. The Assessing Officer has to apply his mind to the information, if any, collected and must form a belief thereon."

ACIT vs. Dhariya Construction Co. (2010) 328 ITR 515 (SC) quoted in CIT vs. M/s Baldev Plaza, Golgha And Another (Allahabad High Court)


People say.....

"There may be liberty and justice for all, but there are tax breaks only for some."
Martin A. Sullivan

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