Reopening of assessment based on DVO report without application of mind unsustainable: Delhi HC

Divine Infracon Private Limited Vs Deputy Commissioner Of Income Tax Central Circle (Delhi High Court) Delhi High Court held that initiation of reassessment under section 147/148 of the Income Tax Act merely on the basis of DVO report without application of mind by the AO is unsustainable and liable to be quashed. Facts- A search and seizure operation u/s. 132(1) of the Act was conducted. For the AY 2010-11, petitioner filed its return of total income u/s. 139(1) of the Act on 15.10.2010, declaring ‘Nil’ income and for the AY 2011-12, the return of total income u/s. 139(1) of the Act, was ...