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2017 (9) TMI 819 - ITAT VISAKHAPATNAMValuation determined by DVO - CIT(A) confirming the addition by not allowing the deduction of 15% from cost of construction by following the CPWD method and 10% on self-supervision - Held that:- As gone through the DVO report and also the assessment order and found that the DVO by considering the time and place of construction and also rates approved by the CBDT, cost of construction is estimated. Find no infirmity in the order passed by the Ld. CIT(A). So far as self-supervision is concerned, the DVO has granted 7.5%. However, A.O. has not accepted the allowance given by the DVO. On appeal, Ld. CIT(A) allowed the rebate at 7.5% by observing that this rebate is allowed towards probable savings in engaging labour and procuring material directly rather to a contractor. A.O. is directed to allow 7.5% towards self-supervision for an amount of ₹ 15,88,392/-. As find that the Ld. CIT(A) has reasonably allowed self-supervision at 7.5% to the assessee and also find that no further allowance is required on account of self-supervision. By taking into consideration all find no infirmity in the order passed by the Ld. CIT(A). Thus, this appeal filed by the assessee is dismissed.
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