1990 (1) TMI 65

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....long with his brother had purchased a leasehold plot at Ghaziabad and constructed a building thereon. The estimated investment in this property, according to the assessee, was to the extent of Rs. 2,86,836. The Department did not agree with the same and made its own estimate of construction. The Income-tax Appellate Tribunal, however, on a consideration of the rival submissions, estimated the cost....

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....materials before it, the Tribunal held that the Commissioner of Income-tax (Appeals) was not justified at all in considering that the structure was cross between R.C.C. structure and load-bearing structure. Thereafter, the Tribunal has considered the report of the valuer. Thus, in our opinion, the cost of construction that has been arrived at by the Income-tax Appellate Tribunal in the present cas....