https://www.taxtmi.com/caselaws?id=120224 The Tribunal upheld the order of the CIT(A), Guntur, regarding the determination of the cost of construction by an Association of Persons for the assessment years 1998-99 and 2001-02. It held that the subsequent CIT(A)-VI, Hyderabad, should not have disagreed with the earlier determination. The Tribunal emphasized the finality of the first appellate authority's factual findings and the binding nature of CBDT instructions. The appeals of the assessees were allowed, and those of the Revenue were dismissed, affirming that income should be assessed in the hands of individual owners, not the AOP. en-us Wed, 29 Mar 2006 00:00:00 +0530 Tue, 17 Jul 2012 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120224 The Tribunal upheld the order of the CIT(A), Guntur, regarding the determination of the cost of construction by an Association of Persons for the assessment years 1998-99 and 2001-02. It held that the subsequent CIT(A)-VI, Hyderabad, should not have disagreed with the earlier determination. The Tribunal emphasized the finality of the first appellate authority's factual findings and the binding nature of CBDT instructions. The appeals of the assessees were allowed, and those of the Revenue were dismissed, affirming that income should be assessed in the hands of individual owners, not the AOP. Case-Laws Income Tax Wed, 29 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120224