ITAT Ahmedabad held that addition under section 56 (2) (vii) (b) of the Income Tax Act without referring valuations of property to DVO as per the provisions of sec-50C of the Income Tax Act is liable ...

ITAT Bangalore held that non application of mind by the AO to the legal issues would justify action of section 263 of the Income Tax Act. Accordingly, appeal of the assessee dismissed and action of ...