https://www.taxtmi.com/caselaws?id=331655 The Tribunal upheld the CIT(A)'s decisions in favor of the assessee on various issues, including allowing the indexed value of buildings, adoption of PWD rates for building extensions, proportionate exemption under Section 54F, valuation based on DVO's assessment under Section 50C, and deletion of penalty under Section 271(1)(c). The Tribunal emphasized the significance of evidence and reasonable estimation methods in the absence of detailed records, dismissing both the Revenue's appeals and the assessee's cross-objections. en-us Fri, 22 Jul 2016 00:00:00 +0530 Tue, 30 Aug 2016 10:59:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331655 The Tribunal upheld the CIT(A)'s decisions in favor of the assessee on various issues, including allowing the indexed value of buildings, adoption of PWD rates for building extensions, proportionate exemption under Section 54F, valuation based on DVO's assessment under Section 50C, and deletion of penalty under Section 271(1)(c). The Tribunal emphasized the significance of evidence and reasonable estimation methods in the absence of detailed records, dismissing both the Revenue's appeals and the assessee's cross-objections. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331655