Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (1) TMI 557 - HC - Income TaxReport of valuation officer u/s section 142A - Mere because, certain expenditure incurred by the assessee towards, construction of the factory building, in respect of which the value has been determined by the DVO, has been shown under different heads in the books of account that by itself cannot be a ground to ignore the expenditures incurred by the assessee towards construction of factory building when the DVO was of the opinion that the expenditure incurred towards humidification plant and trenches are also included in the cost of construction estimated by him. - The Tribunal rightly upheld the finding of the CIT(A) for admitting additional evidence under Rule 46A and giving the assessee the benefit as per the revised report - The Tribunal correctly appreciated the material on record for upholding the objections of the assessee under the heads ‘Humidification Plant’ and ‘Trenches’ and deleting the additions to that extent. The finding so recorded is a finding of fact and is not shown, in any manner, to be perverse. Deduction u/s 80HHC - DEPB - Held that: - the matter is covered by earlier order of this Court , CIT v. M/s F.C.Sondhi and Company (P) Limited (2010 -TMI - 203399 - PUNJAB AND HARYANA HIGH COURT), remanding these issues for fresh decision to the Tribunal - The appeals are disposed of accordingly.
|