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TMI Blog2014 (2) TMI 267X X X X Extracts X X X X X X X X Extracts X X X X ..... Further reduction of 10% of the valuation arrived by DVO is to be granted - The order of CIT(A) upheld - Decided against Revenue. - I.T(ss).A. No.799/Ahd/2010, CO No.336/Ahd/2010 - - - Dated:- 5-2-2014 - Shri N. S. Saini And Shri Kul Bharat,JJ. For the Petitioner : Shri Subhash Bains CIT-D.R. For the Respondent : Shri Prashant Maharshi, A.R. ORDER Per Shri Kul Bharat, Judicial Member : The Revenue and the Assessee both have filed the appeal and the Cross Objection respectively against the order of the Ld.Commissioner of Income Tax(Appeals)-I, Ahmedabad ('CIT(A)' for short) dated 16/09/2010 pertaining to Assessment Year (AY) 2006-07. 2. At the outset, the ld.counsel for the assessee submitted that he does not wish to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal before us. 4. Apropos to Ground No.1 of Revenue's appeal, the ld.CIT-DR supported the order of the AO and submitted that the ld.CIT(A) was not justified in restricting the addition. On the contrary, ld.counsel for the assessee supported the order of the ld.CIT(A) and submitted that finding of ld.CIT(A) is based on DVO's report. 5. We have heard the rival submissions, perused the material available on record and gone through the orders of the authorities below. The findings of the ld.CIT(A) as contained in paras-9 to 9.3 of his order are in the following manner:- "9. I have considered the aforementioned facts and submission of the appellant. In the present case, only issue emerges is that whether the addition of Rs.895531/- mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that DVO should have granted 15% of the cost of construction for self supervision. For this appellant has relied on the decision of Ahmedabad Tribunal in case of Rajhans Builder and contention of the appellant is correct and acceptable. Further, appellant has carried out construction activity in four assessment years, the DVO has taken CPWD rates, there is no defect in the books of accounts of the appellant and the expenses are supported by proper vouchers and bills. Therefore I consider that further reduction of 10% of the valuation arrived by DVO is to be granted. Due to this addition, is further reduced to 10% of Rs.1753000/- i.e. 1,75,300/-. 9.3. Based on above, out of the addition of Rs.8,95,531/- appellant is allowed following re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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