COMMISSIONER OF INCOME TAX Vs. DARSHAN SINGH

JUDGEMENT

(1.) THIS order will dispose of IT Appeal Nos. 185 and 191 of 2002 raising a common question of law and fact. Since the arguments have been advanced in IT Appeal No. 185 of 2002, the facts are taken from that.

(2.) THE Income -tax Appellate Tribunal, Amritsar Bench, Amritsar (for short the "Tribunal"), has quashed the proceedings under s. 147 of the IT Act, 1961 (for short "the Act"), initiated on the basis of the report of the Valuation Officer determining the cost of construction at a figure higher than what was disclosed by the assessee. For this purpose, the Tribunal placed reliance on the decision of this Court in CIT vs. Smt. Usha Mathur (2001) 171 CTR (P&H) 308 : (2001) 252 ITR 179 (P&H) and various other decisions of different Benches of the Tribunal taking the same view.

(3.) WE have heard counsel for the parties and have perused the orders on record.