TaxTMI 
TaxTMI 
2021 (3) TMI 57
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....re the valuation proceedings under Section 142 A as null and void and/or iii- That the cost of litigation be awarded to the petitioner." 2. Precisely stated facts of the case are that Income Tax Officer -3(2), Gwalior as Assessing Officer directed the District Valuation Officer, Income Tax, Bhopal vide letter dated 25-10- 2017 for valuation of property with the nomenclature "The Legacy" a multi-flour apartment situate at Airport Road, Gole Ka Mandir, Bhind Road, Gwalior and in pursuance thereof, notice dated 30-10-2017 (Annexure P/4) purportedly under Section 142A of Income Tax Act, 1961 (hereinafter referred to as "the Act of 1961") was issued by Valuation Officer to the petitioner for providing details as referred in the said ....
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....er within a period of 6 months from the end of the month in which reference is made under sub-sections of Section 142A of the Act of 1961. Here, notice issued by Assessing Officer to Valuation Officer for completion of valuation on 25-10-2017, therefore, submission of report ought to had been within six months, but no such valuation report was prepared by the District Valuation Officer within time stipulated and not only assessment has been carried out by the Assessing Officer and the appeal has been filed, but pending consideration; at the instance of appellate authority; fresh notice on 19-10-2020 (Annexure P/8) has been issued which is contrary to the mandate of statute as reflected under Section 142A. Same is time barred and cannot be t....
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....ete the assessment by December, 2017, therefore, he proceeded with the assessment on the basis of Income Tax Returns filed by the assessee and passed assessment order dated 29-12-2017 (vide Annexure P/6). Challenging the said assessment, appeal is pending at the instance of assessee before the Commissioner (Appeals). 8. Section 250 of the Act of 1961 prescribes Procedure in Appeal which is reproduced for ready reference: "250. Procedure in appeal.-(1) The Commissioner (Appeals) shall fix a day and place for the hearing of the appeal, and shall give notice of the same to the appellant and to the Assessing Officer against whose order the appeal is preferred. (2) The following shall have the right to be heard at the hearin....
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....ioner (Appeals) are being provided in Section 251 of the Act of 1961 which is also reproduced for ready reference: "251. Powers of the Commissioner (Appeals).- (1) In disposing of an appeal, the Commissioner (Appeals) shall have the following powers- (a) in an appeal against an order of assessment, he may confirm, reduce, enhance or annul the assessment (aa) in an appeal against the order of assessment in respect of which the proceeding before the Settlement Commission abates under section 245HA, he may, after taking into consideration all the material and other information produced by the assessee before, or the results of the inquiry held or evidence recorded by, the Settlement Commission, in the course....
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....similar spirit is echoed in Explanation of sub-section (2) of Section 251 of the Act of 1961, therefore, wide powers are available to the Commissioner (Appeals) as appellate authority. 11. Exercising such power, Commissioner (Appeals) directed the Assessing Officer to obtain valuation report vide letter dated 20-03-2018 (Annexure R/2). In pursuance thereof, District Valuation Officer has issued the notice which is the bone of contention in the matter. When appeal is pending consideration before Commissioner (Appeals) and appellate authority has wide powers to look into the dispute as referred above then assessee/petitioner is always at liberty to raise this ground also in appeal even if the petitioner has not raised the same so far, in t....