https://www.taxtmi.com/caselaws?id=215901 The Appellate Tribunal ITAT, Chennai, upheld the valuation of a hotel building construction cost as determined by the Departmental Valuation Officer and subsequently adjusted by the Commissioner of Income-tax (Appeals). The Tribunal found the modifications made by the Commissioner to be justifiable and dismissed appeals from both the Revenue and the assessee. Additionally, the Tribunal affirmed the mandatory levy of interest under sections 234A & 234B, emphasizing its consequential nature to the final determination of additions made. en-us Tue, 19 Jun 2012 00:00:00 +0530 Thu, 23 Aug 2012 07:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215901 The Appellate Tribunal ITAT, Chennai, upheld the valuation of a hotel building construction cost as determined by the Departmental Valuation Officer and subsequently adjusted by the Commissioner of Income-tax (Appeals). The Tribunal found the modifications made by the Commissioner to be justifiable and dismissed appeals from both the Revenue and the assessee. Additionally, the Tribunal affirmed the mandatory levy of interest under sections 234A & 234B, emphasizing its consequential nature to the final determination of additions made. Case-Laws Income Tax Tue, 19 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215901