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TMI Blog2015 (7) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... ahendra Chowdhary, Darshana Poddar, Piyush Poddar & Amrita Sinha, Advs. ORDER Per D. N. Patel,J. 1. This appeal has been preferred raising the following substantial questions of law: "A. Whether on the facts and in the circumstances of the case the ITAT was right in relying on the judgment of the Hon'ble Apex Court decided in the case of Smt. Amiya Bala Paul Vs. CIT reported in 262 ITR 407 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ances of the case, we see no reason to entertain this Tax Appeal and no substantial question of law is involved in this appeal as submitted by the counsel for the appellant. 3. It appears that the Assessing Officer had seen the building in question which is known as Panchwati Plaza situated in the city of Ranchi. He was of the opinion that the cost of the building is much higher. Ultimately, sear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer is relying upon is absolutely absurd and baseless and similar is the finding of the Income Tax Appellate Tribunal. We have perused the said report which is at Annexure-A to the counter affidavit. Looking to the said report no head and tail could be matched by the counsel for the appellant about the so called higher valuation of Panchwati Plaza at Ranchi. The calculation of co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of sand, cement, the work put by the labourers in hours, the cost of supervision etc. Nothing is mentioned about sand, cement, rod, cost of the labourers etc. More we read this valuation report more absurd appears to be and therefore, rightly Commissioner of Income Tax (Appeals) and Income Tax Appellate Tribunal has decided the matter in favour of the respondent and no reliance was placed upon th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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