R. JAYASIMHA BABU, J.

The assessee is aggrieved by the valuation report in respect of the property owned by him and the property being a shopping complex, which was partly under construction as on the date of valuation and situated at 444/8 Main Road, Chalakkudi in the State of Kerala. Prior to the assessment, the WTO having felt the need for a valuation report wrote to the Valuation Officer under s. 16A of the WT Act on 26th Nov., 1989. As the report had not been received even by 26th March, 1990, he completed the assessment for the asst. yr. 1985-86 and he estimated the value of this property at Rs. 40 lakhs. Reference made to the valuer was not only for the asst. yr. 1985-86, but also for subsequent assessment years including the asst. yr. 1988-89. The valuer submitted his report on 18th Jan., 1991. As on the date of submission of his report he found that the building was still incomplete and a portion of the building has been let out and some portion was lying vacant, he valued the portion which has been rented out by adopting rent capitalisation method and valued the remaining portion by adopting the land and building method. He arrived at Rs. 33 lakhs as the value