RAKESH KUMAR GARG, J. - (1.) COURSE of assessment proceedings under s. 143(3) of the Act, the AO while computing the valuation of house property referred the case to the DVO for its valuation. On examination of the valuation filed by the assessee, it was found that there was a huge difference of Rs. 17,89,000 on the value of property assessed by the assessee and by the DVO. Hence, an addition of Rs. 17,89,000 was made in the income of the assessee for the asst. yr. 1997 -98.
(2.) AGGRIEVED against the order of the AO, the respondent filed an appeal before the Commissioner of Income -tax(A) -II, addition.
(3.) NOT satisfied with the order of CIT(A) -II, Ludhiana, the Revenue filed an appeal before the Tribunal, which was "It is evident from s. 142A quoted above that whereas the section has been incorporated retrospectively, w.e.f. 15th assessment has become final and conclusive on or before that date. In this case, the assessment was made earlier than not be justified. We are, therefore, of the view that the controversy on merits of the addition is unnecessary. We accordingly find no justification to interfere with the order of CIT(A). The appeal of the Revenue is accordingly dismissed." However, after preliminary hearing, this Court issued notice to assessee on the following substantial question of law : "Whether in the law and on the facts of the case, the Tribunal was correct in holding that AO was not empowered to refer the case to the DVO and the interpretation of s. 142A of the IT Act was justified -;