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TMI Blog2018 (12) TMI 643X X X X Extracts X X X X X X X X Extracts X X X X ..... anathan JUDGMENT T.S.SIVAGNANAM, J. These appeals by the assessee are directed against the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, dated 08.02.2008 in ITA Nos.1796 and 1826/Mds/2007, for the Assessment year 2004-05. 2.Heard Mr.R.Kumar, learned counsel for the appellant and Mr.Karthick Ranganathan, learned counsel for the respondent. 3.This Appeal has been admitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Commissioner vide order dated 30.04.2007 fixed the cost of construction at Rs. 55,99,821/-. Both the assessee as well as the Revenue, were on the appeal before the Tribunal. The Tribunal dismissed the appeal filed by the assessee and partly allowed the appeal filed by the Revenue and fixed the cost of construction at Rs. 70,00,000/-. 6. We have gone through order passed by CIT(A) and we fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it was of the opinion that Rs. 70,00,000/- should be fixed as the construction of the hotel building. It is not sufficient to just state that it would be fair and reasonable. Why such value is fair and reasonable should be disclosed and it should be manifest on the face of the order. Faced with this situation, we may have to remand the matter for fresh consideration before the Tribunal. However, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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