https://www.taxtmi.com/caselaws?id=67955 The Appellate Tribunal partially allowed the assessee's appeal and dismissed the Department's appeal in a case concerning the valuation of a factory building. The Tribunal found discrepancies in the assessee's documentation and concluded that some addition to the cost of construction was warranted. The Tribunal estimated the construction cost at Rs. 3,75,000 and directed the Income Tax Officer to treat the difference between the actual cost and the estimated cost as unexplained income. The decision emphasized the importance of reliable documentation and accurate valuation methods in such matters. en-us Tue, 25 Nov 1986 00:00:00 +0530 Tue, 15 Mar 2011 18:15:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67955 The Appellate Tribunal partially allowed the assessee's appeal and dismissed the Department's appeal in a case concerning the valuation of a factory building. The Tribunal found discrepancies in the assessee's documentation and concluded that some addition to the cost of construction was warranted. The Tribunal estimated the construction cost at Rs. 3,75,000 and directed the Income Tax Officer to treat the difference between the actual cost and the estimated cost as unexplained income. The decision emphasized the importance of reliable documentation and accurate valuation methods in such matters. Case-Laws Income Tax Tue, 25 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67955