Reopening of Assessment for mere Difference in Valuation Report Not Justified

Mukul Kumar Singh Vs. CIT (Patna High Court) The issue under consideration is whether the issue of notice u/s 147 for re-opening of assessment on the basis of difference in valuation report is justified in law? High Court state that the difference in valuation of the property in the two reports is also not substantial. The Assessee is a salaried person. He had constructed a residential house on a plot owner by his wife. During the course of proceedings, in fact much prior to the passing of the order accepting his return, he had submitted the Valuation Report from an approved Valuer. The same w...