1985 (2) TMI 11

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... When the matter regarding investment in the construction of the hotel was taken up by the Income-tax Officer, the petitioners could explain the investment to the tune of Rs. 1,19,700 only but, according to the Income-tax Officer, the total cost of construction of the hotel worked out to Rs. 1,57,608. Thus, the unexplained investment was to the tune of Rs. 38,000 which was to be added in the hands .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ic flooring should have been taken at the rate of Rs. 2.30 per sq. ft. only. It further appears that the learned Commissioner, while dismissing the revision, did not consider these aspects at all. He was of the view that the construction cost at Rs. 1,57,608 as fixed by the Income-tax Officer was, low. According to him, the cost should have been Rs. 1,55,000 plus 25% of the cost towards electricit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X