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TMI Blog1996 (6) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... uer, whose report does not disclose the materials or data or the basis on which the rates given by him were arrived at ? (2) Was the Tribunal correct in refusing to give credit for the intangible addition of Rs. 7,990 when the assessee has conceded the amount for wealth-tax assessment and when the Income-tax Officer has not commented against it in his remand report on the ground that it is a new ground before it ?" The assessment year involved in this reference is 1974-75, the accounting period for which ended on March 31, 1974. The assessee in this case is an individual. The main dispute involved in this case relates to the value of a modern well designed double-storeyed building at Kamaleswaram in Trivandrum. The Income-tax Officer re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rates available in that area. However, the assessee filed a valuation report by a retired technical adviser to the Kerala Financial Corporation. The Appellate Assistant Commissioner, in view of the valuation report so filed by the assessee, remanded the case to the Income-tax Officer for verification of the fresh valuation report. Accordingly, the Income-tax Officer submitted a remand report in which he had stated that the valuer of the assessee had not given any details on the basis of which he had applied various rates for the different items of work. Ultimately, the Appellate Assistant Commissioner accepted the arguments of the assessee stating that the valuation by the valuer appointed by the assessee contained full details and that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he decision rendered by the Tribunal is only on clear appreciation of evidence produced by the Revenue as well as the assessee. Under section 256 of the Income-tax Act, a question of law should arise from the findings of the Tribunal and what we could see here is only questions of fact decided by the Tribunal. Of course we are aware that this case was referred to us because of the direction given by this court in O. P. No. 925 of 1982. Whatever may be the position, that will not deter us from deciding whether questions of law arise for decision from the order of the Tribunal. As we have stated above, what is raised before us are only questions of fact and we do not propose to decide such questions. In the aforesaid circumstances, we decli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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