DY.CIT, CIRCLE-1(2),, HYDERABAD vs. M/S CONCORD DRUGS LTD.,, HYDERABAD

In the result appeals of the assessee in all the years under consideration are allowed and the appeals of the revenue are dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

142A of the Income-tax Act, 1961 (in short ‘the Act’) on 19/11/2008. . The following two properties were referred to DVO: i) Factory building at Roorkee, Haridwar, Uttaranchal ii) Factory building at Hyathnagar, Hyderabad. Since the assessment was getting time barred, the regular assessment was completed before the receipt of the valuation report on 31/12/2008. However, the assessee filed

DY.CIT, CIRCLE-1(2),, HYDERABAD vs. M/S CONCORD DRUGS LTD.,, HYDERABAD

In the result appeals of the assessee in all the years under consideration are allowed and the appeals of the revenue are dismissed