INCOME TAX OFFICER-1 Vs. MAHENDRA KUMAR NANWANI

JUDGEMENT

(1.) THIS appeal is preferred by the Revenue against the order of the ld. CIT(A) on a solitary ground, which is as under: - -

(2.) THE assessee has also filed cross objection in support of the order of the ld. CIT(A). Besides, reference made to the DVO was also challenged.

(3.) THE ld. D.R. has simply placed reliance upon the assessment order with the submission that the ld. CIT(A) has not appreciated the facts properly and had deleted the addition; whereas the Assessing Officer has formed a belief on the basis of the valuation report that the income chargeable to tax has escaped assessment and there is no illegality or irregularity therein. On merit, he has placed reliance upon the order of the Assessing Officer.