Assessee's Land Surrender: Building Cost Estimated Solely Under M/s. Lumbini Constructions as Assessee's Proportional Share.

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Full Text of the Document

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....Since the building was constructed on the land given by the assessee, naturally the cost of the building has to be estimated in the hands of the M/s. Lumbini Constructions alone and proportionate share of the assessee therein, will have to be considered as price for surrendering the land. - AT....