ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR
In the result, the appeals of the revenue ITA Nos
ITA 193/RPR/2019[2017-18]Status: DisposedITAT Raipur27 Mar 2023AY 2017-18
Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..
For Appellant: Shri R.B.Doshi, CAFor Respondent: Shri Debashish Lahiri, CIT-DR
Section 12ASection 143(3)
…)/12 taxmann.com 88 (De/hi) • It has been repeatedly held that addition cannot be justified solely relying upon the valuation report. Decision of the Supreme Court in the case oj K.P. Varghese v. ITO {19811131 ITR 597/7 Toxmon 13. • Nirpo/singh vis ClT (2013) 359 ITR 398 (P & H) • Roghuroj Agro Industries (P}Ltd (2013) 38 Toxmonn.com 318(AII). (10) ClT V/I,' Vridnaban Real estate (P) Ltd. (2012) 254 CTR (All) 10. Although above cited case pertains to re-opening of the case based on DVO's report but ratio laid down is equally applicable to the instant case. Hon'ble court has deleted the re-opening of assessment u/…