BHOLA NATH MAJUMDAR versus INCOME-TAX OFFICER
Failure to disclose material facts necessary for assessment, Section 55 Capital Asset Capacity Building Construction Estimation and Assessment Construction Cost Disclosure The subsequent report of the valuation under section 55 is merely an opinion. And the reason for believing it cannot be formed. On the basis of such report, the proceedings are not valid, Income Tax Act 1961, Section 55A & 147
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