Principal Commissioner Of Income Tax-5 v. Hareshbhai Ravjibhai Vasani

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL No. 441 of 2018 ============================================================= PRINCIPAL COMMISSIONER OF INCOME TAX-5VersusHARESHBHAI RAVJIBHAI VASANI ============================================================= Appearance :Mrs MAUNA M BHATT, Advocate for the PETITIONER for the RESPONDENT(s) No. 1============================================================= CORAM: HONOURABLE Mr. JUSTICE AKIL KURESHIandHONOURABLE Mr. JUSTICE B.N. KARIA5[th] May 2018 ORAL ORDER (PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal, Ahmedabad [“Tribunal” for short] dated 23[rd] November 2017, raising following question for our consideration : “Whether the Appellate Tribunal was right in law and on facts in deleting the addition of Rs. 86,52,224/= made by the Assessing Officer on the basis of valuation report of the DVO referred under Section 142A of the Act ?” Brief facts are that in the case of the respondent-assessee for AY 2007-2008, pursuant to search and submission of the report by the DVO, the AO made certain additions. CIT [A] and the Tribunal both deleted such additions primarily on the record that the report of DVO was not reliable. The Tribunal, while confirming the view of CIT [A] noted that for adopting the value of the land in question, the DVO had relied on non-agricultural lands of the region. Whereas, the land in question was an agricultural land. Except guess work, there was no concrete material on record. The order of CIT [A] being more elaborate. He noted that the land was undeveloped and the DVO had compared the un-comparables. Issue is purely factual in nature. No question of law arises. Tax Appeal is dismissed. Prakash [Akil Kureshi, J.][B.N Karia, J.]