Section 69, read with sections 55A and 131, of the Income-tax Act, 1961

IT: Where Tribunal passed order on assumption that DVO's report was under section 55A and, therefore, binding on Assessing Officer, once said premise and reasoning was erased, appeal required complete re-consideration and fresh hearing
■■■
[2014] 52 taxmann.com 165 (Delhi)
HIGH COURT OF DELHI
Deepika Jain
v.
Income Tax Appellate Tribunal*
SANJIV KHANNA AND V. KAMESWAR RAO, JJ.
IT APPEAL NOS. 245 & 246 OF 2002
SEPTEMBER  18, 2014
Section 69, read with sections 55A and 131, of the Income-tax Act, 1961 - Unexplained investments (Property) - Assessment year 1994-95 - Assessees had jointly purchased a property - Assessing Officer made a reference under section 131 to DVO and on basis of his report, made addition under section 69 - Tribunal held that report of Valuation Cell was binding on Assessing Officer and only Commissioner (Appeals) had power to give relief - Assessee filed rectification application on ground that reference to DVO was made under section 131 and not under section 55A and, therefore, it was not binding on Assessing Officer - Whether since entire premise and foundation of Tribunal's order was on assumption that DVO's report was under section 55A and once said premise and reasoning was erased, appeal before Tribunal required complete re-consideration and fresh hearing.