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 ...
Assessee filed return of Income at Rs. 3,33,950/- after claiming deductions under chapter – VIA and exempt income. Case was selected for scrutiny. When no compliance was made against the notices ...