2001 (11) TMI 1016

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.... for the Respondent. JUDGMENT T.S. Doabia, J.-The petitioner-concern had constructed a hotel building. It was indicated that the cost of construction of the building came to Rs. 29,42,304. This figure was disputed by the respondents. The issue was referred to the Departmental Valuer. According to this valuer, the estimated cost of the land and building should have been Rs. 37,92,200. On this....

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....ervision. It was stated that if these two benefits are given, then there would be virtually no addition, as has been proposed by the CIT. In addition to this, grievance is also made of the fact that the CIT made an observation that there should be an addition to the extent of Rs. 1,12,747, i.e., the amount which would have been paid to the architect or the person who had prepared the plans. Relief....

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....en by the CIT that the amount which is said to have been incurred by the petitioner on getting the plans prepared, has been rightly taken into consideration and no variation should be made in this regard. 3. After having heard the learned counsel for the parties, I am of the opinion that the view expressed earlier by the Tribunal that if the margin between the value as given by the assessee and....