Held that under section\u00a0142A\u00a0a reference can be made to ascertain the value of any investment referred to in section\u00a069\u00a0or section\u00a069B\u00a0or the value of any bullion, jewellery or any other valuable article referred to in section\u00a069A\u00a0or section\u00a069B\u00a0of the Act. There is conspicuous exclusion of section\u00a069C. The reference under section\u00a0142A\u00a0in the assessee\u2019s case had not been made for ascertaining the correct market value of the investment in property but for the purpose of ascertaining the expenditure which the assessee had made on the purchases. The reference to the Departmental Valuation Officer under section\u00a0142A\u00a0for the purpose of section\u00a069C\u00a0was not valid. Held that\u00a0 under section\u00a0250\u00a0of the Act, the Commissioner (Appeals) is empowered to make further inquiry as he thinks fit or direct the Assessing Officer to make further inquiry and report to him. Under section\u00a0251(1)(a), in appeal against an order of assessment, he may confirm, reduce, enhance or annul the assessment, but there is no such power to change the provision of law qua the item of which assessment was made. Therefore, in the absence of such power, the Commissioner (Appeals) could not have treated the addition made under section\u00a069C\u00a0as an addition made under section\u00a069B. There was no power conferred upon the Commissioner (Appeals) to assess a particular item under a different provision of the Act than the Assessing Officer had done without giving specific notice to the assessee regarding such action The addition made under section\u00a069C\u00a0on the basis of the report of the Departmental Valuation Officer by the Assessing Officer was to be deleted.(AY.2006-07)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 142A : Estimate of value of assets by Valuation Officer-Reference to Department Valuation Officer-Unexplained expenditure-Reference for valuation of agricultural land purchased-Not valid-Commissioner (Appeals)-No power to change section under which Assessing Officer has assessed item of income. [S. 69, 69C 250, 251] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36647","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9x5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=36647"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36647\/revisions"}],"predecessor-version":[{"id":36648,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36647\/revisions\/36648"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=36647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=36647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}