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2015 (10) TMI 1070 - AT - Income TaxValuation of land - estimation of appreciation thereon and thereby making addition to the wealth of the assessee - Held that:- As decided in assessee's own case for AY 2005-06, 2007-08 and 2008-09 [2013 (7) TMI 558 - ITAT DELHI ] Assets being business assets, its value was to be determined as per Rule 14 and not as per Rule 20 of Schedule III - It is only if any condition under Rule 8 is satisfied, that the assessing authority could have referred to and determine the value under Rule 20 - Following decision of M/s Sahara India Savings and Investment Corporation Ltd. Vs. ACIT [2010 (9) TMI 824 - ALLAHABAD HIGH COURT] - Decided against Revenue.
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