Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Oct-29-1997
Reported in : (1999)63TTJ(Ahd.)357
..... the matter. according to the learned departmental representative the returns filed by the assessee after detection of concealment by it would not be considered a valid return under vd1s and, therefore, no benefit of cbdt circulars can be given to the assessee. the returns have not been filed suo moto ..... therefore, reference was necessary to be made to the departmental valuer. the said assessment was set aside by the cit(a). even during the reassessment proceedings also, nowhere it was found by the ao from the records as well as books of accounts maintained and also details furnished by the assessee, ..... as per his requirement. no defect, whatsoever were found by the ao at the time of assessment as well as at the time of reassessment proceedings. the assessee had maintained the details regarding all the materials purchased and payments made to labourers. when the ao invited objections from the assessee to ..... was noticed by the ao that the assessee had completed construction of property known as jaynath hall' at gondal road, rajkot. during the course of assessment proceedings for asst. yr. 1982-83 reference was made to the district valuation officer (dvo) to determine the cost of the said property. the dvo vide ..... therefore, it was clear that the assessee had concealed the income. the ao initiated penalty proceedings under s. 271(1)(c) and under s. 273 of the it act and also charged interest under s. 215 of the act.7. before the cit(a) the assessee contended that the ao was not justified in .....Tag this Judgment!