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AO may ignore Inspector’s report while estimating the rate of plots with which respondent had not been confronted
Case Law Details
- Case Name
- Commissioner of Income Tax - XI Vs Delhi House And Finanace Corporation (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
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AO not relay upon an Inspector’s report while estimating the rate of plots with which the respondent had not been confronted.
It is also pertinent to note that he had only made verbal inquiries with regard to the prevailing market rate of the property and had not collected any instances of actual sales in the said areas. Furthermore, the inquiry that he made was as on the date of his visit, that is on 02.03.2006, whereas the sales had taken place in the financial year ending 31.03.2003. He also stated that he had made inquiries from only 2-3 persons. It is obvious that when such statements a...
