https://www.taxtmi.com/caselaws?id=257470 The High Court upheld the Tribunal's decision favoring the assessee in a case involving construction valuation in a small town. The court dismissed the Revenue's appeal, affirming the use of State P.W.D. rates over CPWD rates for assessing construction costs. The Tribunal's acceptance of the assessee's offer to add only Rs. 8 lakhs was deemed appropriate, emphasizing the importance of local rates in smaller towns like Coimbatore. The judgment highlighted the significance of utilizing relevant local rates for valuation, resulting in the dismissal of the Revenue's appeal without costs awarded. en-us Wed, 04 Feb 2015 00:00:00 +0530 Fri, 13 Mar 2015 08:11:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257470 The High Court upheld the Tribunal's decision favoring the assessee in a case involving construction valuation in a small town. The court dismissed the Revenue's appeal, affirming the use of State P.W.D. rates over CPWD rates for assessing construction costs. The Tribunal's acceptance of the assessee's offer to add only Rs. 8 lakhs was deemed appropriate, emphasizing the importance of local rates in smaller towns like Coimbatore. The judgment highlighted the significance of utilizing relevant local rates for valuation, resulting in the dismissal of the Revenue's appeal without costs awarded. Case-Laws Income Tax Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257470