DVO’s valuation based on incomparable sales is not permissible in law

HIGH COURT OF DELHI Commissioner of Income-tax Versus Abhinav Kumar Mittal IT APPEAL NO. 42 OF 2013 JANUARY  23, 2013 JUDGMENT Badar Durrez Ahmed, J.  This appeal has been filed by the revenue against the order dated 29.06.2012 passed by the Income Tax Appellate Tribunal in ITA 4460/Del/2010 pertaining to the assessment year 2006-07. 2. The facts are that the respondent/ assessee had filed a return declaring an income of Rs. 39,90,410/- on 18.07.2006. Subsequently, a search was conducted under Section 132 of the Income Tax Act, 1961 (hereinafter referred to as ‘the s...