Section 69B Addition Confirmed as AO Recorded Discrepancies Before DVO Reference

M.Ravindran Vs ITO (Madras High Court) In M. Ravindran Vs ITO, the Madras High Court examined whether the Assessing Officer could validly refer a property valuation matter to the District Valuation Officer (DVO) for making an addition under Section 69B without first rejecting the assessee’s books of accounts. The Court upheld the addition and dismissed the assessee’s appeal. The assessee, an individual deriving income from property and rent, filed his return for Assessment Year 2007-08 declaring total income of ₹1,10,880. During scrutiny proceedings, the Department noticed investment in ...