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2014 (8) TMI 1235 - AT - Income TaxCapital gain computation - cost of construction of the godown - Assessee after considering the cost of acquisition had worked out the capital gains which was not acceptable to AO - CIT(A) while allowing the appeal of Assessee has noted that the valuation report of the valuer had also estimated the cost of construction of the godown and therefore the Assessee’s share of ½ worked and thus he has considered the cost of acquisition of Rs. 27 lacs considered by Assessee to be in order - HELD THAT:- Before us, Revenue has not brought any material to controvert the finding of ld. CIT(A). Assessee has submitted that the balance ½ share which belonged to his brother and in his assessments, the cost of acquisition of the same godown has been accepted by the Revenue. Before us, no material has been brought on record to show that the valuation of the godown in the case of Assessee’s brother has been challenged in appeal before Tribunal. We further find that in the case of CIT vs. Kumararani Meenakshi Achi [2006 (10) TMI 123 - MADRAS HIGH COURT] has held that the differential treatment cannot be meted out to another co-owner while making the assessment of same property or while valuing the same property. In view of the aforesaid facts and relying on the aforesaid decision of Hon’ble Madras High Court, we find no reason to interfere with the order of Ld. CIT(A) and thus these grounds of Revenue are dismissed.
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