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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 ..... s of the valuation were deleted - appeal being without any merit, is dismissed - 492/07 - - - Dated:- 1-4-2008 - SATISH KUMAR MITTAL and RAKESH KUMAR GARG JJ. Sanjiv Bansal for the appellant. Puneet Gupta for the respondent. Judgment: Rakesh Kumar Garg J. - For the assessment year 1997-98 a return declaring an income of Rs. 2,17,650 was processed on May 24, 1999. Dur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he addition. 3. Not satisfied with the order of the Commissioner of Income-tax (Appeals)-II, Ludhiana, the Revenue filed an appeal before the Tribunal, which was dismissed, vide order dated October 7, 2005. The operative part of the order is reproduced : "It is evident from section 142A quoted above that whereas the section has been incorporated retrospectively, with effect from November 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the asses-see on the following substantial question of law : "Whether in the law and on the facts of the case, the Income-tax Appellate Tribunal was correct in holding that the Assessing Officer was not empowered to refer the case to the District Valuation Officer and the interpretation of section 142A of the Income-tax Act was jus-tified ?" 5. Shri Sanjiv Bansal, advocate for the appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent-assessee, has argued that the question of law raised by the Revenue has actually no effect on the decision of the case and is purely academic in nature because even if the question of law as raised by the Revenue is answered in favour of the Department even 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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