https://www.taxtmi.com/caselaws?id=35369 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the valuation of work in progress for a builder for the assessment year 2003-04. The Court ruled that the additional affidavit filed by the assessee was admissible as it did not introduce new evidence but reiterated existing contentions. The Court clarified that Rule 46A of the Income Tax Rule 1962 applies when new evidence is presented, not when supporting affidavits are submitted. The Court dismissed the revenue's appeal, finding no substantial question of law to consider. en-us Tue, 10 Nov 2009 00:00:00 +0530 Fri, 21 Dec 2012 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35369 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the valuation of work in progress for a builder for the assessment year 2003-04. The Court ruled that the additional affidavit filed by the assessee was admissible as it did not introduce new evidence but reiterated existing contentions. The Court clarified that Rule 46A of the Income Tax Rule 1962 applies when new evidence is presented, not when supporting affidavits are submitted. The Court dismissed the revenue's appeal, finding no substantial question of law to consider. Case-Laws Income Tax Tue, 10 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35369