COMMISSIONER OF INCOME TAX Vs. DINESH TALWAR

JUDGEMENT

(1.) BY THE COURT : On an application filed under S. 256(1) of the IT Act, 1961, the Tribunal has referred the following question for our opinion :

(2.) THE assessee, who is an individual, constructed a house property in Malviya Nagar, Jaipur during the accountant period relevant to asst. yr. 1990-91. The Department referred the matter to the Valuation Officer for working out the cost of construction of the property. After receipt of the report of the Departmental Valuation Officer, the AO has made an addition of Rs. 1,46,400. While valuing, the Departmental Valuation Officer has applied the rate of CPWD for the purpose of valuation.