2017 (6) TMI 1049

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....ing the appeal of the assessee. 2. The Revenue has filed the present appeal on the following ground : (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in deleting the addition made by the Assessing Officer u/s 69B of the Act, of Rs. 1,06,18,870/ignoring the comparable prevailing rates of the properties of the same locality and the valuation re....

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....under Section 69B of the Act is erroneous. The same is also improper, considering the facts of the present matter. 4. We have gone through the judgment of the Assessing Officer, CIT(A) and the Tribunal. 5. It has been observed by the Tribunal that the comparable sales instances produced on record are of commercial properties and the property in question is a residential flat. The explanation giv....