TMI Blog2012 (6) TMI 676X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal for consideration of this court from the order of the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar (in short "the Tribunal") passed on September 30, 2002, in Income-tax Appeal No. 555 (ASR) 2001, for the assessment year 1992-93 : "1. Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was justified in law in holding that the reopening of assessment under section 147 of the Act based on the valuation report was not valid, whereas as per the valuation report income to the tune of Rs. 16,91,200 has escaped assessment ? 2. Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was justified in holding that the report of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sequential assessment framed under section 143(3) was thus held to be legal and valid. 3. The assessee preferred an appeal before the Tribunal. The assessee only pressed the question of reopening of the assessment under section 147 of the Act. The Tribunal, after examining the matter, accepted the plea of the assessee and, accordingly, allowed the appeal, vide order dated September 30, 2002. 4. The issue that arises in this appeal is whether the Assessing Officer could have reopened an assessment on the basis of the report of the DVO. Learned counsel for the Revenue, however, could not refer to any provision except section 55A of the Act on the basis of which, it could be pleaded that the report of the DVO was valid for estimating the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 142A of the Act would not be applicable as the proviso was attracted. The Allahabad High Court in Smt. Shashi Agarwal s case (supra) had held that where the Tribunal had passed the order before the cut-off date prescribed under the proviso to section 142A of the Act and the appeal under section 260A of the Act being maintainable before the High Court only on substantial question of law, therefore, it could not be said to be continuation of the assessment proceedings within the meaning of the proviso to section 142A of the Act. The Assessing Officer, thus, had no power to refer the matter to the DVO. Similar view has been taken by Delhi and Calcutta High Courts. 8. In view of the above, we hold that section 142A of the Act is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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