{"id":38086,"date":"2023-12-11T12:49:23","date_gmt":"2023-12-11T07:19:23","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-narula-educational-trust-2023-292-taxman-456-cal-hc\/"},"modified":"2023-12-11T12:49:23","modified_gmt":"2023-12-11T07:19:23","slug":"pcit-v-narula-educational-trust-2023-292-taxman-456-cal-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-narula-educational-trust-2023-292-taxman-456-cal-hc\/","title":{"rendered":"PCIT v. Narula Educational Trust (2023) 292 Taxman 456 (Cal.)(HC)"},"content":{"rendered":"<p>A search was conducted at premises of assessee on 13-3-2014\u00a0 Pursuant to same DDIT (Inv) made reference for valuation of assets of assessee to DVO on 11-7-2014. Based on initial valuation report submitted by valuation officer on 18-11-2014, the\u00a0 Assessing Officer made addition as unexplained investment under section 69\u00a0 On appeal, Tribunal held that DDIT did not have power to make reference to DVO, which power he acquired only on 1-4-2017 by virtue of Finance Act, 2017 under section 132(9B)\u00a0 and deleted the addition. On appeal by Revenue, the High Court affirmed the order of the Tribunal. (AY. 2008-09 to 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69 : Unexplained investments-Search-Reference to DVO-DDIT (Inv)-DDIT did not have power to make reference to DVO-Power  was  acquired only on 1-4-2017 by virtue of Finance Act, 2017 under section 132(9B)-Order of Tribunal deleting the addition was affirmed.  [S. 132, 132(9B)]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38086","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9Ui","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38086"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38086\/revisions"}],"predecessor-version":[{"id":38087,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38086\/revisions\/38087"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}