https://www.taxtmi.com/caselaws?id=70165 The Tribunal ruled in favor of the assessee in a cost of construction estimation dispute for assessment years 1973-74 and 1974-75. The Tribunal accepted the construction cost claimed by the assessee, supported by proper books of accounts and an approved valuer's report, overruling the departmental valuation cell's higher estimation. Emphasizing the importance of maintaining accurate records, the Tribunal directed the deletion of the additional amount added by the AAC, highlighting the necessity for Revenue to provide substantial evidence to challenge claimed costs. en-us Thu, 08 Mar 1979 00:00:00 +0530 Thu, 14 Apr 2011 16:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70165 The Tribunal ruled in favor of the assessee in a cost of construction estimation dispute for assessment years 1973-74 and 1974-75. The Tribunal accepted the construction cost claimed by the assessee, supported by proper books of accounts and an approved valuer's report, overruling the departmental valuation cell's higher estimation. Emphasizing the importance of maintaining accurate records, the Tribunal directed the deletion of the additional amount added by the AAC, highlighting the necessity for Revenue to provide substantial evidence to challenge claimed costs. Case-Laws Income Tax Thu, 08 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70165