1983 (9) TMI 132

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..... 1976-77 to 1980-81. These appeals are considered and disposed of by a common order as the point involved is similar. 2. The assessee is an individual. Assessment years concerned are 1976-77 to 1980-81 for which the previous years ended on31st March 1976,31st March 1977,31st March 1978,31st March 1979&31st March 1980. Returns of income for all these years were filed on7th May 1980. The assesse....

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....report and the investment in the property at Rs. 1,87,660. The difference of Rs. 20,800 was added towards the income of the assessee in the asst. yr. 1980-81. The ITO assessed the assessee on the following incomes; Asst., yr. Rs. 1976-77 8,100 1977-78 8,100 1978-79 10,050 1979-80 10,050 1980-81 31,000 3. Later on the ITO referred the case to the Valuation Off....

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....nded that at least the report of the Valuation Officer could be considered to be an opinion and as such proceedings u/s 263 deserved to be withdrawn. After carefully going through the reports of the ITO and the IAC and considering the submissions made by the assessee's counsel, the CIT concluded that proper enquiry had not been made in this case and on the face of it the valuation of the house ado....

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....t were made and came into existence afterwards could not form part of the record of the proceedings of the ITO at the time he passed the order and cannot be taken into consideration by the Commissioner for the purpose of invoking his jurisdiction u/s. 263(1). He argued that in view of the decision of the case of Ganga Properties vs. ITO (1979) 118 ITO 447 (Cal), the proceedings initiated by the Co....