Law:

Section:

Manish R. Bhatt for the Appellant. JUDGMENT 1. Heard learned counsel for the appellant. 2. The following common questions are raised in admission of these appeals : "(a)Whether, on the facts and circumstances of the case and in law, the Appellate Tribunal was correct in quashing the assessment without going into the merits of the case and ignoring the valuation report of the Departmental Valuation Officer ? (b)Whether, on the facts and circumstances of the case and in law, the Appellate Tribunal was justified in coming to the conclusion that the Assessing Officer had no power to make the reference to the DVO though such powers vested with the Assessing Officer by virtue of the provisions contained in sections 142A and 131(1) of the Income-tax Act ? (c)Whether, on the facts and in law, the Appellate Tribunal was justified in coming to the conclusion that the making of reassessment does not include the process of issue of notice under section 148 of the Act ? (d)Whether, on the facts and circumstances of the case and in law, the Appellate Tribunal was correct in quashing the notice under section 148 even though the notice was issued after the expiry of due date of filing of return and in the light of the fact that the assessee had hot filed its return of income under section 139(1) and 139(4) of the Act?" 3. The short controversy involved in these appeals is whether the Assessing Officer can refer any matter for valuation of the property of an assessee though assessment and/or reassessment proceedings are not pending. The Tribunal is of the view that when the assessment proceedings are not pending the Assessing Officer has no jurisdiction and is hot empowered to refer any property for valuation to the Valuation Officer. The Tribunal has discussed this issue as under : "8. When the process of reopening of assessment ends and the assessment is validly reopened thereafter, the process of making reassessment starts. Therefore, even after the insertion of section 142A the Assessing Officer should have reason to believe that any income chargeable to tax has escaped assessment as provided under section 147 and thereafter only the notice for reassessment can be issued…

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