This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
AO not authorized to make any estimate U/s. 142(2A) of Income tax Act, 1961
Case Law Details
- Case Name
- CIT Vs Rachna Agarwal (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
In the present case, there was no basis for the AO to determine that the true value of the property was Rs. 1.25 crores, by adopting the return on capital method. The AO was under a duty first to ascertain what was according to him the true cost of the property. Not having done so, that error could not have been compounded by adopting a completely different methodology without any positive finding as to the cost of acquisition. The following conclusions of the CIT (A) extracted below, therefore, could not be faulted with:
“On a consideration of the above facts and the legal position as ...
