TMI Blog2000 (12) TMI 38X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellate Tribunal, Guwahati Bench, in I. T. A. Nos. 283 and 284/Gauhati of 1995, dated january 20, 1999, for the assessment years 1989-90 and 1990-91. The brief facts are as follows : The assessee and her husband constricted a four storeyed building at Hospital Road, Silchar, making equal contribution by way of investment. The building was completed in the month of june, 1990. The cost of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red the investment made by the assessee in the construction of the building in the light of the valuation reports of both the Departmental Valuation Officer and the registered valuer. The Assessing Officer for the reasons stated in his assessment order took the view that the assessee could not offer a satisfactory explanation for investment made in the construction of the building to the extent of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Valuation Officer of the Department under section 55A of the Income-tax Act and in that view of the matter the order was quashed. Two questions of law arose and they are as follows : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the Assessing Officer cannot refer the case to the Valuation Officer under section 55A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udgment and in the discussion held above, we are of the view that the assessing authority would be quite competent to call for the report on the valuation of the cost of constriction from the Valuation Officer in view of the provisions under sections 131, 133(6) and 142(2) of the Income-tax Act. These are the enabling machinery provisions which vest ample powers in the assessing authority, any wro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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