Failure to call for Mandate DVO report under Income Tax Act: ITAT sets aside order Discrediting Valuation Report of Assessee without Substantial Reason [Read Order]

Failure - call - Mandate – DVO - report - Income - Tax – Act - ITAT - order - Discrediting - Valuation - Report - Assessee - Substantial – Reason – TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) set aside the order discrediting the valuation report of the assessee without substantial reason where there is a failure to call for the mandate of DVO report under the Income Tax Act, 1961. The Assessee, Swadeshi Polytex Ltd. is into the real estate development by…

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