2012 (10) TMI 1180

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..... ition of ₹ 4,05,975/- made by the Assessing Officer on account of renovation expenses claimed by the assessee in calculating capital gains from sale of property. 2. On the facts and in the circumstances of the case and in law, the Ld CIT (A) has erred in directing the Assessing Officer to refer the matter of valuation of property to Valuation Cell appreciating the fact the assessee had not claimed before the Assessing Officer that the value adopted by Stamp Valuation Authority exceeds the Fair Market Value of the property as on the date of transfer." 3. Briefly stated the relevant facts of the case are that the assessee is a salaried employee and owns an flat. He sold the flat for a sale consideration of ₹ 20.50 lakhs while .....

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..... the contractor, the third party confirming the expenditure on the renovation and repairs, the AO should not have disallowed. The claim of the assessee merely for want of quotation and other correspondence, should not be denied. That is how both the grounds of the assessee were allowed by the CIT(A). Therefore, the Revenue is aggrieved against the decision of the CIT (A) and hence, the Revenue is in appeal before us. 5. During the course of proceedings before us, none appeared to represent the assessee. Ld DR relied on the orders of the Revenue Authorities and read out the relevant facts and portions from the same. 6. We have heard the Ld DR and gone through the papers available before us. So far as the issue relating to invoking of the pr .....

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..... enditure claimed by the assessee cannot become incorrect. In this regard, we have perused para 4.6 of the CIT (A) order and the same is reproduced as under: "4.6. Regarding the rejection of claim of the appellant for renovation and repair expenses, it is noted that the AO has rejected the claim on flimsy grounds that quotations and correspondence regarding repaid and renovation were not filed by the assessee. It is a normal practice that in renovation and repair of personal flats, quotations and correspondence are not made in writing as is done in government departments. The appellant has submitted proper bill of the party, through whom renovation work was executed. He has also taken GPF Advance from his employer for this purpose. If the .....

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