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The Principal Commissioner of Income Tax, Faridabad Versus Avtar Kukreja

2015 (6) TMI 145 - PUNJAB & HARYANA HIGH COURT

Capitalisation of rent - Held that:- In respect of the first property Tribunal noted that no comparable sale instance had been given and that there was no incriminating material which could justify the addition made. The Assessing Officer had added a .....

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2003 and registered on 03.03.2004 with the constructed house thereon. There was no evidence to support the addition. The same was, therefore, rightly set aside.

Third property Tribunal found merit in the argument that the PWD rates should .....

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efore, after balancing the factors reduced the addition to ₹ 1,61,542/-. There is no warrant for interfering with the discretion.

Last property the rent was taken as prevalent in the year 2007-2008. It was noted that by then the loca .....

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e been considered with respect to the relevant assessment year, namely, 2003-2004. At that time, the rent was about 1/10th of the rent in the year 2007-2008. The addition was, therefore, rightly deleted. - Decided against revenue. - ITA Nos. 92 & 94- .....

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0 allowing substantially the respondent s appeal against the order of the CIT (Appeals) confirming the additions made by the Assessing Officer. 2. Both the appeals pertain to the assessment years 2004-2005 and 2006-2007 respectively. A search was car .....

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unal has set aside the additions made by the Assessing Officer. 3. No question of law arises in the matter. The matter involved an appreciation of facts alone. In respect of the first property, the difference in valuation of the plot by the assessee .....

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6/-. The Tribunal rightly deleted the addition. 4. With respect to the second property, the Tribunal noted that the stamp duty had been paid on the current circle rate. The Tribunal rightly observed that the DVO had valued the property on 18.11.2008 .....

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third property, the cost of construction was assessed at ₹ 5,76,926/- against the respondent s claim that the cost of construction was ₹ 3,00,000/-. The Tribunal found merit in the argument that the PWD rates should have been adopted ins .....

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