2005 (2) TMI 74

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.... sought by the appellant in this appeal filed under section 260A of the Income-tax Act, 1961 (for short, "the Act"). For the assessment year 1993-94, the respondent filed a return declaring an income of Rs. 27,660. By an order dated March 31, 1995, the Assessing Officer completed the assessment under section 143(1)(a) of the Act. That order was not challenged by the Revenue by filing appeal, etc. During the course of assessment proceedings for the assessment year 1994-95, the Assessing Officer noted that the assessee had constructed a building on Plot No. 20, Veer Savarkar Marg, Shakurpur, Delhi, in the financial years 1992-93 and 1993-94 relevant to the assessment years 1993-94 and 1994-95 at a cost of Rs. 9,65,250. He did not feel c....

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....als), the respondent filed further appeal before the Tribunal. He filed another appeal against the order passed in relation to the assessment year 1994-95. The Tribunal relied on the judgment of the Supreme Court in Smt. Amiya Bala Paul v. CIT [2003] 262 ITR 407 and declared that the Assessing Officer did not have the jurisdiction to make addition on the basis of the Departmental Valuation Officer's report. Paragraph 3 of the Tribunal's order reads as under: "After considering the rival submissions, I find that the ratio of the decision of the Supreme Court in the case of Smt. Amiya Bala Paul v. CIT [2003] 262 ITR 407 is squarely applicable on the facts of the present case as in view of the decision of the apex court, the Departmental au....

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....ence is made under sub-section (1) shall, for the purposes of dealing with such reference, have all the powers that he has under section 38A of the Wealth-tax Act, 1957 (27 of 1957). (3) On receipt of the report from the Valuation Officer, the Assessing Officer may, after giving the assessee an opportunity of being heard, take into account such report in making such assessment or reassessment: Provided that nothing contained in this section shall apply in respect of an assessment made on or before the 30th day of September, 2004, and where such assessment has become final and conclusive on or before that date, except in cases where a reassessment is required to be made in accordance with the provisions of section 153A." A reading o....

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....er sections 131(1) and 133(6) is distinct from and does not include the power to refer a matter to the Valuation Officer under section 55A. A report of the Valuation Officer under section 55A may be considered by the Assessing Officer as a piece of evidence if it is relevant. However, the power of inquiry granted to an Assessing Officer under sections 133(6) and 142(2) does not include the power to refer the matter to the Valuation Officer for an enquiry by the latter. If the power to refer any dispute to a Valuation Officer were already available in sections 131(1), 133(6) and 142(2), there was no need to specifically empower the Assessing Officer to do so in certain circumstances under section 55A. Section 55A having expressly set out ....