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2015 (3) TMI 406 - HC - Income TaxDetermination of the cost of construction - whether Tribunal was right in holding that the CPWD rates cannot be applied to the commercial-cum-residential complex constructed at Coimbatore on the ground that Coimbatore is a small town? - Tribunal directing the Assessing Officer to restrict the addition to ₹ 8 Lakhs as offered by the assessee - Held that:- It is evident that in a case of this nature, the Department should give credence to the valuation of the State P.W.D. in relation to the value of construction either on the side of the assessee or on the side of the Department. Since we find that there is no specific notification or circular indicating that CPWD rate alone should be adopted in arriving at the cost of construction, the Tribunal is justified in adopting the valuation of the State P.W.D. rates for the purpose of determining the cost of construction. Tribunal was justified in partly allowing the appeal filed by the Revenue. - Decided against revenue.
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