I. T. A. NO.708 (IB) OF 1986-87, DECIDED ON 8TH MARCH, 1988. versus I. T. A. NO.708 (IB) OF 1986-87, DECIDED ON 8TH MARCH, 1988.
Sections ()) (A), & 65 and As? Additions were reopened on the basis of which the assessee had declared the value of loses as Rs. For this purpose it was estimated at Rs. 2, 2,, 60,000, Rs. Dept. Excise Inland Taxation, on the basis of such information, the difference between the value disclosed to the ITO inquiry. The clarification in this regard should have been limited and the assessment was not justified by the Excise Income Tax Officer of the Department under section 13. (1) Even without obtaining double approval from (A) and IAC and since there is no evidence of a dispute in the purchase price, the assessed value of the property by the Department of Excise and Taxation according to ITO conditions There was an error accepting.
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