https://www.taxtmi.com/caselaws?id=67507 The Tribunal dismissed the revenue's appeal challenging the addition made by the Assessing Officer under section 69 of the Income Tax Act, 1961, regarding the cost of construction of a hotel building. The CIT (A) deleted the addition, favoring the Registered Valuer's estimate based on State PWD rates over the DVO's estimate based on CPWD rates. The Tribunal upheld the CIT (A)'s decision, emphasizing the credibility of entries in business account books and the preference for local estimation methods in Rajasthan, ultimately affirming the deletion of the addition. en-us Tue, 22 Nov 1994 00:00:00 +0530 Fri, 11 Mar 2011 10:08:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67507 The Tribunal dismissed the revenue's appeal challenging the addition made by the Assessing Officer under section 69 of the Income Tax Act, 1961, regarding the cost of construction of a hotel building. The CIT (A) deleted the addition, favoring the Registered Valuer's estimate based on State PWD rates over the DVO's estimate based on CPWD rates. The Tribunal upheld the CIT (A)'s decision, emphasizing the credibility of entries in business account books and the preference for local estimation methods in Rajasthan, ultimately affirming the deletion of the addition. Case-Laws Income Tax Tue, 22 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67507