To invoke provisions of section 142A of IT Act there should be something on record

RELEVANT PARAGRAPH  14. We have considered the rival submissions and also perused the relevant material on record. It is observed that the addition in dispute on account of alleged unexplained investment made by the assessee in the property was made by the AO on the basis of valuation report obtained from the DVO by making a reference u/s 142A, the provisions of which read as under:- “[Estimate by Valuation Officer in certain cases. 142A. (1) For the purposes of making an assessment or reassessment under this Act, where an estimate of the value of any investment referred to in section 6...