https://www.taxtmi.com/caselaws?id=269591 The ITAT Delhi partially allowed the Revenue's appeal, upholding the deletion of an addition made by the Assessing Officer under Section 44AD but overturning the CIT(A)'s decision regarding the cost of construction calculation for flats sold. The ITAT determined that the Assessing Officer's method of cost allocation based on Rs. 511 per sq.ft. was appropriate, criticizing the CIT(A) for increasing it to Rs. 700 per sq.ft. The judgment was pronounced on 6th May 2015. en-us Wed, 06 May 2015 00:00:00 +0530 Thu, 17 Dec 2015 06:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269591 The ITAT Delhi partially allowed the Revenue's appeal, upholding the deletion of an addition made by the Assessing Officer under Section 44AD but overturning the CIT(A)'s decision regarding the cost of construction calculation for flats sold. The ITAT determined that the Assessing Officer's method of cost allocation based on Rs. 511 per sq.ft. was appropriate, criticizing the CIT(A) for increasing it to Rs. 700 per sq.ft. The judgment was pronounced on 6th May 2015. Case-Laws Income Tax Wed, 06 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269591