Held that reference to the Departmental Valuation Officer under S. 55A of the Act  was to be made only when the value of the property disclosed by the assessee was less than the fair market value. If the value adopted by the assessee of the property was much more than the fair market value, there was no question of reference to the Departmental Valuation Officer. The present case pertained to the assessment year 2011-12 and the financial year 2010-11 and the amendment to S. 55A was brought into effect from July 1, 2012, effective from the assessment year 2012-13 and that amendment was not retrospectively applicable. (AY. 2011-12)