Amiya Bala Paul vs Commissioner Of Income Tax, Shillong

The Supreme Court addressed the issue of whether the Assessing Officer could refer the cost of construction of a house to a Valuation Officer under Section 55A of the Income Tax Act, 1961. The Court held that while Section 55A specifically governs such references, the Assessing Officer also possesses powers under Sections 131(1), 133(6), and 142(2) to obtain a Valuation Report. The Court affirmed the High Court's ruling that the incorrect citation of the provision did not invalidate the Assessing Officer's authority to seek a valuation, thus answering the question in the affirmative against the assessee.