Rajasthan High Court - Jaipur
Commissioner Of Income Tax vs Prem Nath Motors (Rajasthan) (P) Ltd. on 1 April, 2003
Equivalent citations: (2004)186CTR(RAJ)311
JUDGMENT
1. Heard learned counsel for the parties.
2. Considering the submissions, the Tribunal is directed to refer the following questions along with the statement of case for the opinion of this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that before making a reference to the Valuation Officer for his opinion under Section 133(6) of the IT Act, it was necessary that there is material or evidence to indicate that certain expenses incurred on the construction have not been recorded in the books of the assessee ?"
"Whether, on the facts and in the circumstances of the case, the Valuation Officer's report was not sufficient material/evidence for the AO to determine the cost of construction of the property and whether the Tribunal was justified in deleting the addition made by the AO on the basis of the Valuation Officer's report ?"
3. The reference be made within 2 months from the date of receipt of certified copy of this order.
4. The reference application filed under Section 256(2) of the IT Act, 1961, stands disposed of accordingly.