TMI Blog2007 (6) TMI 142X X X X Extracts X X X X X X X X Extracts X X X X ..... .DINAKARAN and P.P.S. JANARTHANA RAJA JJ. JUDGMENT The judgment of the court was delivered by P.P.S. JANARTHANA RAJA J.- This appeal is filed under Section 260A of the Income Tax Act, 1961 by the Revenue, against the order of the Income Tax Appellate Tribunal, Chennai Bench "C", Chennai in I.T.A. No.1273/Mds/2006 dated 28.09.2006 raising the following substantial questions of law: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .1998 and thereafter the case was taken up for scrutiny and the assessment was completed on 27.03.2000 on a total income of Rs.99,620/-. Subsequently, the assessment was reopened under Section 147 of the Act and the assessment was completed under Section 143(3) read with Section 147 of the Act and determined the total income at Rs.14,96,840/-. While completing the assessment, the Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investment on account of difference in cost of construction only in the year 1997-1998 even though the construction was carried out over a period of 5 years, i.e. from the April, 1992 to April, 1997. In view of this the action of the Assessing Officer in considering the excess in cost of construction in one year is not correct. I am of the view that the addition u/s 69B for unexplained investme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uer correctly valued the building and since the assessee has not submitted vouchers, invoices etc. towards purchase of construction materials, the Departmental Valuation Officer did not allow rebate towards self supervision. Hence the cost of construction made by the Assessing Officer is in conformity with law. 5. Heard the counsel. The assessee admitted the cost of construction at Rs.47,4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntly, the Supreme Court in the case of Commissioner of Income-tax Vs. P. Mohanakala [2007] 291 ITR 278), held that whenever there is a concurrent factual finding by the authorities below, the same should be accepted and no interference should be called for by the High Court. Under these circumstances, we do not find any error or legal infirmity in the order of the Tribunal so as to warrant in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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