Per Shri S.K. Chander, Accountant Member - This appeal by the assessee is directed against the order of the AAC dated 10-1-1985 relating to the assessment year 1981-82.

2. The issue in this appeal is whether on the facts and in the circumstances of the case, there is any justification for the addition of Rs. 47,500 to the total income of the assessee under the head 'Income from other sources'.

3. The above addition was made by the ITO in the impugned assessment order dated 15-2-1984 made under section 143(3) of the Income-tax Act, 1961 ('the Act') for the year under appeal. The ITO found that property for House No. 1, Road No. 44, Punjabi Bagh, New Delhi, had been sold for a consideration of Rs. 1,50,000 as stated in the agreement for sale and purchase entered into between the vendor and vendee on 1l-1-1979. In support of the consideration shown in this instrument, the assessee had filed valuation report from his valuer, the ITO himself obtained the valuation of the said property from the Valuation 0fficer after making a reference to him under section 55A of the Act. The property was sold by Shri Hari Ram, father and his three sons, Sanjay, was major, Kailash and Sham were minor