( 1 ) AS per our directions on an application under Section 256 (2) of the Income-tax Act, 1961, the following question has been referred to this court for the opinion of this court :"whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the reopening of the assessment proceedings under Section 147 (a) of the Income-tax Act, 1961, was legally invalid ?"

( 2 ) THE asessee filed return of income in July 1974, showing income from house property at Rs. 6,785. The assessment was completed under Section 143 (3) on March 29, 1977, accepting the returned income. Subsequently, the Inspector of Income-tax was deputed to evaluate the investment made by the assessee in the construction of a house property at P-l, Hyde Lane, Calcutta, who reported in the matter stating that the house has been constructed by the assessee and his wives jointly, viz. , Smt. Fatemabai Hassenali and Smt. Fizza Abbasbhai. A lift has also been installed in that house. As per the report of the Inspector the investment cost during the year is Rs. 8,08,000 as against Rs. 5,08,776 shown by the three co-owners. The difference comes to more than Rs. 1 lakh.

( 3 ) THEREAFTER

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