R.Manivannan, CHENNAI V. ACIT, Trichy

ITA 2600/CHNY/2014

• Counselvise Citation: 260021714 RSA 2014
• Duration Of Justice: 1 year(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-11-2015
• Appeal Filed By: Assessee
• Bench Allotted: B
• Next Hearing Date: 27-10-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 15-10-2014
• Court: TRIBUNAL
• Department Lawyers: P RADHAKRISHNAN
• Assessee Lawyers: S SRIDHAR
• Keywords: Valuation report

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI , ! ' ! # . $% , & '( BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER ./ ITA NO. 2600/MDS/2014 / ASSESSMENT YEAR : 2005-06 SHRI R. MANIVANNAN, NO.108, CHURCH STREET, KARAIKAL. PAN AAHPM9858P APPELLANT) V. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-II, TIRUCHIRAPALLI. RESPONDENT) / APPELLANT BY : SHRI S. SRIDHAR, ADVOCATE / RESPONDENT BY : SHRI P. RADHAKRISHNAN, JCIT ! / DATE OF HEARING : 27.10.2015 '# ! / DATE OF PRONOUNCEMENT: 06.11.2015 ) / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS) DATED 21 .8.2014 FOR THE ASSESSMENT YEAR 2005-06. - - ITA 2600/14 2 2. THE GRIEVANCE OF THE ASSESSEE IN THIS APPEAL IS WITH REGARD TO PLACING RELIANCE ON THE VALUATION REPORT SUBMITTED BY THE DVO REGARDING DETERMINATION OF COST OF CONSTRUC TION OF RESIDENTIAL PROPERTY BY APPLYING CENTRAL PWD RATE, THOUGH THE PROPERTY WAS SITUATED AT KARAIKAL. 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE M ATERIAL ON RECORD. ADMITTEDLY, IN THIS CASE, COST OF CONST RUCTION WAS DETERMINED BY THE DVO BY APPLYING CENTRAL PWD RATE WHILE FRAMING THE ASSESSMENT U/S.153C OF THE ACT. IN OUR OPINION, THE GRIEVANCE OF THE ASSESSEE IS JUSTIFIED. IT WAS SE TTLED PRINCIPLE THAT IN THE CASE OF MOFUSSIL AREA, COST OF CONSTRUC TION TO BE DETERMINED BY APPLYING STATE PWD RATE AS HELD BY TH E JURISDICTIONAL HIGH COURT IN THE CASES OF A. ABDUL RAHIM V. ITO (258 ITR 714), M. SELVARAJ V. ITO (258 ITR (AT) 82) AND CIT V. - - ITA 2600/14 3 RAYA R. GOVINDARAJAN (89 CCH 207). BEING SO, WE DI RECT THE ASSESSING OFFICER TO ADOPT STATE PWD RATE TO DECIDE THE COST OF CONSTRUCTION. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON FRIDAY, THE 6 TH OF NOV., 2015 AT CHENNAI. SD/- SD/- ( $ % . & '( ) ( ) * + , ) DUVVURU RL REDDY - ./012304556037- 8 9: /JUDICIAL MEMBER ! 9:;<<5=1>01>?@AB@3 )8 /CHENNAI, C9 /DATED, THE 6 TH NOV., 2015. MPO* 9D EFGF /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. H- /CIT(A) 4. H /CIT 5. FIJ K /DR 6. J(L /GF.