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TMI Blog2008 (4) TMI 515X X X X Extracts X X X X X X X X Extracts X X X X ..... sment year 1997-98 a return declaring an income of Rs. 2,17,650 was processed on May 24, 1999. During the course of assessment proceedings under section 143(3) of the Act, the Assessing Officer while computing the valuation of house property referred the case to the District Valuation Officer for its valuation. On examination of the valuation filed by the assessee, it was found that there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 142A quoted above that whereas the section has been incorporated retrospectively, with effect from November 15, 1972, by the Finance (No. 2) Act, 2004, it has been spe-cifically provided that nothing contained in this section shall apply in respect of an assessment made on or before September 30, 2004, and where such assessment has become final and conclusive on or before that date. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the interpretation of section 142A of the Income-tax Act was jus-tified ?" 5. Shri Sanjiv Bansal, advocate for the appellant-Revenue has vehemently argued that the Tribunal has erred in law in disallowing the Departmental appeal by relying upon the decision in the case of Smt. Amiya Bala Paul v. CIT [2003] 262 ITR 407 (SC) and has not properly interpreted the provisions section 142A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... then in view of the pure finding of fact recorded by the Tribunal in the impugned order, this appeal is liable to be dismissed. 7. We have heard learned counsel for the parties and perused the record. 8. From the perusal of the record, the Commissioner of Income-tax (Appeals)-II, Ludhiana, found that the report of the Valuation Officer is not reliable and the addition made on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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