1984 (12) TMI 164

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.... accepting the valuation of Rs. 2,58,035 shown in respect of a house property of the HUF based on a registered valuer's certificate. It would appear that the internal audit of the Department, after a scrutiny of the assessment, reported on 8th Sept., 1981, that the value of the property was underassessed to the extent of Rs. 1,61,288. The audit party came to this conclusion on the ground that the building was situated on a plot of the extent of 40,106 sq. ft. and, while valuing the property, the registered valuer had considered only 10,000 sq. ft. of the plot area as separable and, therefore, not appurtenant to a convenient enjoyment of the building, whereas however, such area which should have been considered as separable and, therefore, n....

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....it party could not pronounce on the law, it nevertheless could draw the attention of the ITO to the same. According to him, in the present case, the audit party had only brought to the notice of the Asstt. Controller, certain factual mistakes committed by him while accepting the valuation report of the registered valuer, in that, he had failed to correctly determine the extent of land that was to be considered as not appurtenant to the building. He submitted that in this sense the audit party's report constituted information which was received after the completion of the original assessment and, therefore, the provisions of s. 59(b) had been correctly applied. 5. On behalf of the Accountable Person, Shri C. J. Thakar, supported the order....