2015 (6) TMI 145

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....one ORDER S J Vazifdar,ACJ (Oral) These appeals are against the common order of the Tribunal dated 30.11.2010 allowing substantially the respondent's appeal against the order of the CIT (Appeals) confirming the additions made by the Assessing Officer. 2. Both the appeals pertain to the assessment years 2004-2005 and 2006-2007 respectively. A search was carried out under Section 132 of ....

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....erty, the Tribunal noted that the stamp duty had been paid on the current circle rate. The Tribunal rightly observed that the DVO had valued the property on 18.11.2008 ignoring the vital fact that the property was acquired in the year 2003 and registered on 03.03.2004 with the constructed house thereon. There was no evidence to support the addition. The same was, therefore, rightly set aside. 5....

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....hen the locality had become more prominent and had started fetching commercial value. The rent was fixed in respect of a lease granted in favour of a Multi National Company (MNC). The Tribunal rightly noted that the estimated cost of the acquisition ought to have been considered with respect to the relevant assessment year, namely, 2003-2004. At that time, the rent was about 1/10th of the rent in ....