2001 (12) TMI 23

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..... evenue has filed this appeal under section 269H of the Income-tax Act, 1961. The admitted facts may be briefly noticed. On August 13, 1981, the factory building in dispute was sold for a total consideration of Rs.4,11,000 to S.K. Chaudhary and others--the partners of Bharat National Industrial Corporation, B-6, Mayapuri, Phase II, New Delhi. The proceedings under section 269C of the Act were ini .....

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..... Tribunal having accepted the assessee's claim, the Revenue has approached this court through the present appeal under section 269H of the Act. Mr. Sawhney, learned counsel for the Revenue, contends that the view taken by the Tribunal is not in conformity with the provisions of section 269C(2) of the Act. Thus, the order cannot be sustained. The claim made on behalf of the Revenue has been contro .....

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..... pproved valuer had assessed the value of land at Rs.1,24,423. The Tribunal has accepted the assessment made by the approved valuer for the reason that it was supported by "comparable sale instances". Similarly, the value of the building was estimated by the official valuer at Rs.12,13,504. On this he had allowed a depreciation of Rs.4,64,165. Thus, the building was assessed at Rs.7,49,339. As agai .....

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..... case of the Revenue that the relevant evidence had been misread. The Tribunal, on consideration of the matter, has taken a possible view. It is not shown to be perverse or such as no reasonable person could have taken. Since the findings are based on consideration of the evidence, we find that there is no infirmity of law which may call for interference in this appeal. Another aspect of the mat .....

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..... e absence of concrete evidence it cannot be said that the Revenue was right in claiming that the actual value in December, 1983, was Rs.9,25,400. No other point has been raised. In view of the above, we find that there is no error in the order passed by the Tribunal. It calls for no interference by this court under section 269H of the Act. Resultantly, the appeal is dismissed. No costs.
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