2002 (5) TMI 816

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....ssessment under section 148 of the Income-tax Act. The assessment framed is void ab initio, the same be cancelled." 3. After hearing the learned representatives of both the parties, we find that the issue is squarely covered in favour of the assessee and against the Revenue by the decision of this Bench of the Tribunal dated 8-3-2002 in the case of Darshan Singh v. Assessing Officer [IT Appeal No. 212 (Asr.) of 1999] relating to the assessment year 1995-96. While deciding the similar issue, the Tribunal vide paragraphs 5 and 5.1 of the order held as under:- "5. We have heard the learned representatives of both the parties at length and have also perused the orders of the authorities below. Before us, Shri Sudhir Sehgal, Advocate, the ....

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.... Status : Individual. Reasons for issuing of notice under section 148 As per the information received from the Budhlada, the assessee has constructed a house at Budhlada and this case was referred to the Valuation Cell. The Valuation Officer, Ludhiana vide his valuation report has estimated the cost of construction at Rs. 10,73,600 whereas the cost of construction shown/explained before the valuation officer is at Rs.6,00,000. Hence, there is a difference of Rs. 4,73,600 between the valuation shown by the assessee as determined by the Valuation Cell. I have, therefore, reasons to believe that income chargeable to tax amounting to Rs. 4,73,600 has escaped assessment, therefore, notice under section 148 is issued in this case fo....

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....f the present case are almost similar to the facts of the case of Smt. Usha Mathur (supra) and the Hon'ble High Court in the said case held that when the assessment was made under section 143(1), reopening on the basis of valuation cells report no addition can be made which amounts to review of its earlier order. In our view, in the instant case also, on the basis of the decision of the Hon'ble Punjab and Haryana High Court in the case of Smt. Usha Mathur (supra), it can be held that the Assessing Officer was not justified in re-opening the assessment on the basis of report of the D.V.O. At this stage, it would also be relevant to point out that this Bench of the Tribunal in the case of Smt. Paramjit Kaur, Amritsar v. ITO [IT Appeal Nos. 27....