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TMI Blog2005 (5) TMI 660X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 28th March, 2001 assessed the total income at ₹ 49,24,110. Against this addition, the assessee also filed objections which were considered and as the reply was found to be unsatisfactory, the Assessing Officer directed charging of interest under sections 234(b) and 234(c) of the Act as well as initiated penalty proceedings under section 271(1)(c) of the Act. The order of the Assessing Officer was improvement in an appeal preferred by the assessee before the Commissioner of Income-tax (Appeals), who vide his order dated 24th December, 2002 dismissed the same. Dissatisfied with this, the assessee preferred the appeal before the Income-tax Appellate Tribunal against the order of the First Appellate Court which was partly accepted b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luation Officer and asked for the estimated expenditure on construction of the property in question. The assessee had shown ₹ 35.09 lakhs under the head "building account" which was for construction of a Banquet Hall known as Golden Gate. Being dissatisfied with the costs of construction declared, the matter was referred to the Departmental Valuation Officer who gave the valuation at ₹ 84.09 lakhs, thus a difference of ₹ 48.99 lakhs between the cost of construction declared by the assessee and given by the Departmental Valuation Officer. 4. The controversy in the present case, thus, falls in a very narrow campus. Whether the Assessing Officer has the power to call for the report from the Valuation Officer under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t set aside. There will be no order as to costs." (p. 416) 5. The provisions of section 131(1)( d) of the Act deals with powers which would vest in the Assessing Officer in regard to recovery and production of evidence. Under clause (d) of sub-section (i) of section 131, power is vested in the Assessing Officer to issue commission. The commissions could be issued as contemplated under Order 26 Rule 9 CPC. These provisions do not by necessary implication or otherwise empower the Assessing Officer to appoint such an officer for any purpose which otherwise is not specifically contemplated under the provisions of this Act. The Supreme Court while dealing with this aspect clearly indicated to the provisions of section 55A of the Act which ..... X X X X Extracts X X X X X X X X Extracts X X X X
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