TaxTMI 
TaxTMI 
2001 (7) TMI 74
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.... filed this appeal under section 260A of the Income-tax Act, 1961. It claims that the following substantial questions of law arise in this case: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in: (i) holding that the assessment under section 147 based on the valuation report was void, in view of the fact that the assessment was....
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....ent year 1989-90. The assessment was completed under section 143(1). The assessee along with her husband constructed a house No. 28, Sector 14, Faridabad. She held a share of 50 per cent. in the property. During the assessment proceedings in the case of the assessee's husband, the Assessing Officer referred the matter to the valuation cell. On the basis of the report, certain additions were made i....
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....l was dismissed by the Commissioner of Income-tax. Aggrieved by the order, the assessee filed an appeal before the Tribunal. After consideration of the matter, the assessee's claim has been accepted. It has been found that "the valuation report cannot be made the basis of reopening the assessment which has already been finalised..." The assessee had another grievance. An addition had been made to....
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....tion was warranted by the record. Consequently, the two questions as raised by the Revenue arise in the present case. We are unable to accept this contention. The Tribunal has examined the whole case at length. A detailed order running into 12 pages has been passed. Each finding has been recorded on the basis of the evidence on the file. No error in the findings of fact recorded by the Tribunal h....