TMI Blog1980 (8) TMI 123X X X X Extracts X X X X X X X X Extracts X X X X ..... f the cost of construction being raised by the assessee during the year under appeal. The assessee has a factory at plot No. 7 in Lal Bahadur Shastri Udyog Area, Beawar. The construction was spread over a period of three years i.e., from asst. yrs. 1975-76 to 1977-78. The assessee has maintained account books of the cost of construction of the full period and as per the books the cost of construct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en maintained for actual cost of construction the ITO was not justified to get the cost estimated by the Valuation Officer; that the ITO could not have referred the matter to Valuation Cell under s. 55A which is meant for a different purpose and that the difference being of about 10 per cent only between the actual cost of construction shown by the assessee and the cost estimated by the Valuation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, delete the addition sustained by the CIT(A). 4. The second ground relates to the addition of Rs. 882 representing entertainment expenses according to ITO. Details of the expenditure are on page 25 of the paper book. Shri Vyas, the ld. counsel for the assessee, submits that the entire expenditure as detailed on page 25 aggregating to Rs. 882.65 was incurred on the staff and nothing was in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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