No unexplained investment if construction cost was determined as per State PWD rates and not Central PWD rates
IT: Where assessee computed cost of construction of building on basis of rate fixed by State PWD, in absence of any circular or notification indicating that Central PWD rate alone was to be adopted in arriving at cost of construction, Assessing Officer was not justified in making addition under section 69 to assessee's income by adopting rates fixed by central PWD in respect of building in question
Regards
Prarthana Jalan
__._,_.___
Posted by: Prarthana Jalan <prarthanajalan@ymail.com>
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