TMI Blog2013 (12) TMI 836X X X X Extracts X X X X X X X X Extracts X X X X ..... ation and construction claimed by the assessee for the assessment year 2006-07. The orders of the three authorities based on the Central PWD rates is set aside by remanding back the matter to the assessing officer who shall rely upon the report of the District Valuation Officer at Thiruvananthapuram so far as value of the renovation and cost of construction for the assessment year 2006-07 and then proceed in accordance with the procedure contemplated. - Decided partly in favor of assessee. - ITA. No. 251 of 2012 - - - Dated:- 11-11-2013 - CJ Dr. Manjula Chellur And A. M. Shaffique,JJ. JUDGMENT Manjula Chellur, C.J. By consent of both the parties, we heard the appeal on merits. The entire issue revolves around whether the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... suant to a search in the premises of the appellant on 22.03.2007. The entire issue revolves round the valuation made by the Department after personal inspection of the building in question as per Annexure B. It is not in dispute that neither the assessing officer nor the Commissioner of Income Tax(Appeals) agreed with the claim of the appellant assessee. Therefore he went before the Tribunal. Even the Tribunal accepted the report of the District Valuation Officer, Chennai and opined that assessee did not point out any flaw in the valuation report and therefore the assessing officer as well as the Commissioner of Income Tax(Appeals) were justified in rejecting the contention of the assessee. Aggrieved by the same the assessee is before this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rity, as the said issue would go to the root of the matter, we are of the opinion, such issue could be entertained before this Court. 6. We place reliance on an earlier decision of this Court in I.T.A. No.109 of 2008 dated 21.10.2008 wherein their Lordships at paragraph 5 onwards opined that the valuation of property has to be made keeping in view the Kerala PWD rates and not Central PWD rates. It is also pertinent to mention that in each State depending upon the scarcity of the material available as well as the cost of labour, the cost of construction may very from State to State, therefore it is just and proper to place reliance on the local PWD rates rather than Central PWD rates in order to arrive at the valuation of the property. Ult ..... X X X X Extracts X X X X X X X X Extracts X X X X
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