What was found
(CAN) ON TAKEOFF AT ABOUT 500 FT ALTITUDE, CREW NOTICED THE PROPELLER SPEED WAS INCORRECT AND HEARD THE ENGINE SPOOLING UP. THEY PULLED BACK THE POWER AND THE PROPELLER CONDITION LEVER, NOTICED AN OVERTORQUE CONDITION AND IMMEDIATELY ELECTED TO RETURN TO THE ORIGIN AIRPORT WHERE AN UNEVENTFUL LANDING WAS MADE. TROUBLESHOOTING IS ON-GOING.