1990 (1) TMI 65

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... building thereon. The estimated investment in this property, according to the assessee, was to the extent of Rs. 2,86,836. The Department did not agree with the same and made its own estimate of construction. The Income-tax Appellate Tribunal, however, on a consideration of the rival submissions, estimated the cost of construction at rupees three lakhs and disagreed with the figure of cost of cons .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... was not justified at all in considering that the structure was cross between R.C.C. structure and load-bearing structure. Thereafter, the Tribunal has considered the report of the valuer. Thus, in our opinion, the cost of construction that has been arrived at by the Income-tax Appellate Tribunal in the present case is wholly based on relevant considerations and appraisal of the materials on record .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X