AMARLAL KISHANDAS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee constructed a house commencing some time in the year 1971 and completed it in November, 1974. THE assessee had disclosed in his books the amounts spent by him on that construction as Rs. 2,12,000. He subsequently disclosed a further sum of Rs. 60,000 as having been invested in such construction under the voluntary disclosure scheme.

(2.) AFTER the house was completed in the assessment year 1975-76, the Department assessed the value of that construction at Rs. 4,98,500. The difference between the amount disclosed by the assessee and the value as found by the Department was directed to be spread over during the assessment years 1972- 73 to 1975-76. The amount of addition to be made each year came to Rs. 53,000.

(3.) AT the instance of the assessee, the following question has been referred to us.