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TMI Blog2008 (10) TMI 636X X X X Extracts X X X X X X X X Extracts X X X X ..... owns 10 cents of land with a double storeyed building. Since the assessee has no known source of income for investment in the construction of residential building, a notice under Section 148 of the Act came to be issued. In reply to the said notice the assessee had stated that the cost of construction of the double storeyed building is in a sum of ₹ 9,25,000/- and the source of income was sale proceeds of the gold ornaments worth ₹ 1,25,000/-, loan amounts of ₹ 70,000/- and ₹ 40,000/- borrowed from her two brothers and ₹ 1,70,000/- advanced by her another brother by name Sasidharan. She had also stated that a sum of ₹ 5,20,000/- was advanced by one Sri.Sundara Rajan. (3) The assessing authority while ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 148 of the Act. The first appellate authority has granted partial relief to the assessee by giving a deduction of ₹ 75,000/- keeping in view that the Kerala PWD rates and CPWD rates vary and, therefore, the assessing authority was not justified in relying upon the valuation report of the Valuation Officer of the Department who had valued the property taking into consideration the CPWD rates. (6) The assessee, being aggrieved by the orders passed by the first appellate authority, had carried the matter in second appeal before the Tribunal. The Tribunal, by its orders dated 13.7.2006, had remanded the matter to the assessing authority with a specific direction that the assessing authority will apply the PWD rates prevailing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax (Appeals) confirming the order of the Assessing Officer? (9) Sri.Jose Joseph, learned counsel appearing for the Revenue, in support of the questions of law framed by him, would submit that the Tribunal was not justified in directing the assessing authority to take only the PWD rates prevailing in the State of Kerala, and, therefore, the direction issued by the Tribunal to the assessing authority is arbitrary and violative of the statutory provisions. (10) The Tribunal while deciding the assessee's appeal has, in fact, relied upon number of case laws decided by various High Courts wherein the High Courts are of the opinion that there is variation between CPWD rates and PWD rates prevailing in the State and since the bu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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