AO Cannot Ignore Correct DVO Valuation, ₹9.87 Cr Section 69B Addition Deleted

Sneh Quality Spices Pvt Ltd Vs DCIT (ITAT Delhi) AO Cannot Pick Wrong Valuation- Revised DVO Report Accepted: ITAT Deletes 9.87 Cr Building Addition- Rejects AO’s 69B Additions Tribunal decided cross appeals arising out of additions made u/s 69B towards alleged unexplained investment in cold storage building & machinery. AO had reopened assessment after receiving DVO reports, but adopted the first valuation report, rejecting the revised DVO report even though the revised report was prepared after addressing Assessee’s objections, correcting glaring factual mistakes, segregating non-col...