AO cannot Refer Matter to DVO without Rejecting Books of Account u/s 142A of Income Tax Act: Allahabad HC dismisses Appeals on Lack of Merit [Read Order]
The court found no merit in the revenue's appeals and noted that the assessee had filed its income return for the assessment year 2004-05 with audited books of accounts
In a recent ruling, the Allahabad High Court dismissed two income tax appeals filed by the Principal Commissioner of Income Tax against Parmarth Iron Pvt. Ltd., affirming that an Assessing Officer ( AO ) cannot refer a matter to the Departmental Valuation Officer ( DVO ) without first rejecting the books of account under Section…
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