https://www.taxtmi.com/caselaws?id=249521 The Court upheld the Tribunal's decisions on all three issues, emphasizing the importance of evidence and reasonable valuation methods in tax matters. The first issue involved the deletion of construction costs of flats given to tenants without sale consideration, with the Court finding the deduction justified due to lack of evidence on F.S.I. utilization and income. The second issue concerned property valuation, with the Court supporting the Tribunal's valuation of Rs. 2,50,000 over the Commissioner's estimate. The third issue involved remitting the matter back for reexamination, with the Court dismissing the appeal and not awarding costs. en-us Tue, 17 Jun 2014 00:00:00 +0530 Wed, 16 Jul 2014 11:29:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249521 The Court upheld the Tribunal's decisions on all three issues, emphasizing the importance of evidence and reasonable valuation methods in tax matters. The first issue involved the deletion of construction costs of flats given to tenants without sale consideration, with the Court finding the deduction justified due to lack of evidence on F.S.I. utilization and income. The second issue concerned property valuation, with the Court supporting the Tribunal's valuation of Rs. 2,50,000 over the Commissioner's estimate. The third issue involved remitting the matter back for reexamination, with the Court dismissing the appeal and not awarding costs. Case-Laws Income Tax Tue, 17 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249521