Held that valuation report cannot be held to be incriminating material hence addition was held to be not valid. Tribunal also held that DDIT (Inv)/ADIT (Inv) was empowered to make reference to Valuation Officer inserted by section 132(9D) only after 1-4-2017 by an amendment by Finance Act, 2017. (AY. 2008-09 to 2013-14)
ACIT v. Narula Educational Trust. (2021) 189 ITD 31 / 86 ITR 365 / 211 TTJ 39 / 205 DTR 95 (Kol.)(Trib.)
S. 153A : Assessment-Search-Valuation report-Valuation report cannot be held to be incriminating material-Addition held to be not valid-DDIT (Inv)/ADIT (Inv) was empowered to make reference to Valuation Officer inserted by section 132(9D) only after 1-4-2017 by an amendment by Finance Act, 2017 [S. 132,132(9D), 142A]